Korea: Industrial output improves in February
Industrial output expanded 3.1% in month-on-month seasonally adjusted terms in February, which contrasted January’s 1.5% decrease. The notable turnaround was partly driven by a notable rebound in manufacturing production. In contrast, electricity, gas and steam output fell.
On a seasonally adjusted annual basis, industrial production rose at a quicker rate of 9.9% in February (January: +5.8% yoy), the best result since July 2021. Accordingly, the trend improved sizably, with the annual average variation of industrial production coming in at 0.3% in February, contrasting January’s minus 0.6% reading.