Korea: Industrial output growth improves in November
Industrial production expanded 5.9% year-on-year in November (October: +4.5% yoy). In the export market, outbound manufacturing products rebounded, while in the domestic market they grew at a faster pace. Meanwhile the capacity utilization grew at a faster annual pace in November.
On a monthly basis, industrial output grew 5.1% in seasonally-adjusted terms in November, rebounding notably from October’s 2.9% fall and marked the best result since June 2020. Meanwhile, the trend improved, with the annual average growth of industrial production coming in at plus 6.7%, up from October’s 6.2% reading.