Korea Industry November 2020


Korea: Industrial output rebounds in November

December 30, 2020

Industrial production increased 0.5% in November in annual terms (October: -2.0% yoy).

On a monthly basis, industrial output rose 0.3% in seasonally-adjusted terms in November, contrasting October’s 1.1% fall. Meanwhile, annual average industrial production growth fell to 0.7% in November (October: +0.8% yoy). This signals a worsening trend in the industrial sector.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.8% in 2021, which is up 0.5 percentage points from the previous month’s forecast, before growing 3.2% in 2022.


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Korea Industry Chart

Korea Industry November 20 20

Note: Year-on-year and annual average variation of industrial production index in %.
Source: National Statistics Office of Korea (KOSTAT).

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