Korea: Industrial production accelerates in December
January 31, 2014
In December, industrial production expanded 2.6% over the same month of the previous year, which contrasted the 0.8% contraction observed in November. December's expansion came in above market expectations of a 1.7% rise.
Compared to the previous month, industrial output surged 3.4% in seasonally-adjusted terms and marked an increase over the 0.1% expansion recorded in November. Reflecting the strong reading, annual average growth in industrial output edged up from minus 0.3% in November to minus 0.1% in December.
FocusEconomics Consensus Forecast panellists expect industrial production to rise 1.8% in 2014, which is down 0.3 percentage points from last month's forecast. For 2015, participants expect industrial output to pick up to 4.9%.
Author: Ricardo Aceves, Senior Economist