Korea Industry October 2020

Korea

Korea: Industrial activity dips in October

November 30, 2020

Industrial output fell 2.2% year-on-year in October, after an 8.1% surge in September. The downtick was mainly led by lower manufacturing output.

On a seasonally-adjusted monthly basis, industrial production dropped 1.2%, which marked the worst result since May. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at plus 0.8% in October, down from September's 0.9% reading.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.3% in 2021, which is unchanged from the previous month’s forecast, before growing 3.1% in 2022.


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Korea Industry October 20 20

Note: Year-on-year and annual average var. of industrial production index in %.
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