Korea: Industrial activity deteriorates in February
Industrial output declined 3.2% in month-on-month seasonally-adjusted terms in February, which contrasted January’s 2.4% increase. February’s notable weakening was largely due to a deterioration in manufacturing production. In addition, electricity, gas and steam output fell.
On an annual basis, industrial production plunged 12.3% in seasonally adjusted terms in February, which was greater than January’s 11.2% fall. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.3%, down from January’s minus 0.2% reading.