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Korea Industrial production March 2023

Korea: Industrial output grows at quickest pace since June 2020 in March

Industrial output expanded 5.1% in month-on-month seasonally-adjusted terms in March, which contrasted February’s 2.7% decrease. The figure marked the best reading since June 2020. The rise was partly due to a notable rebound in manufacturing output. In addition, electricity, gas and steam output dropped at a softer pace.

On an annual basis, factory output dove 9.7% in seasonally adjusted terms in March, a smaller drop than February’s 12.3% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.4% in March, down from February’s minus 1.3% reading.

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