Korea Industry September 2020

Korea

Korea: Industrial output notches quickest growth since February in September

October 30, 2020

Industrial production increased 8.0% year-on-year in September (August: -2.6% yoy). The figure marked the strongest expansion since February. The rebound was driven by a surge in production from the manufacturing subsector.

On a seasonally-adjusted monthly basis, industrial output rebounded strongly, rising 5.4% in September (August: -0.3% mom). Meanwhile, the trend improved, with the annual average growth of industrial production coming in at plus 0.9% in September, up from August's 0.4% reading.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.3% in 2021, which is down 0.1 percentage points from the previous month’s forecast, before growing 2.9% in 2022.


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Korea Industry September 20 20

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