In November, industrial production expanded 10.4% over the same month last year, coming in below the 13.5% increase recorded in October, but beating market expectations of a 10.0% rise. In part, the reading reflects seasonal effects related to the Chuseok harvest festival and a month-on-month comparison points to a stronger expansion than suggested by the annual data. According to seasonally adjusted figures, industrial production rose 1.40% over the previous month, which contrasted the 4.23% drop recorded in October and marked the first increase in industrial activity after three consecutive months of contracting output. At a sector level, manufacturing, which accounts for the bulk of industrial output, increased 10.6% annually (October: +13.6% yoy), the mining sector rose 3.3% (October: -5.6% yoy) and electricity and gas supply grew 8.2% (October: +9.8% yoy).
Industrial production remains strong in November
December 30, 2010
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Korea Economic News
October 25, 2016
The Korean economy slowed down in the third quarter of this year, expanding at the weakest pace in over a year.
October 13, 2016
At its 13 October monetary policy meeting, the Bank of Korea (BoK) announced that it will hold the base rate constant at a record low of 1.25%, which was largely in line with market expectations.
October 5, 2016
In September, consumer prices rose 0.6% over the previous month, which contrasted the 0.1% decrease in August and overshot the 0.2% increase the markets had expected.
October 3, 2016
Korea’s Customs Services reported that exports totaled USD 40.9 billion in September, which represented a 5.9% contraction over the USD 43.4 billion recorded in the same month last year.
September 30, 2016
The forward-looking business confidence indicator (BSI) for the manufacturing sector produced by the Bank of Korea (BoK) rose from 74 points in September to 75 points in October.