Korea: Industrial production accelerates in September
October 31, 2012
In September, industrial production added 0.7% over the same month last year, which was above the 0.3% expansion recorded in August. The reading undershot market expectations, which had industrial production expanding 1.0%. Compared to the previous month, industrial production rose a seasonally adjusted 0.81%, which contrasted the 0.94% drop recorded in August. The reading marked the strongest gain in four months. Despite the monthly increase, the trend continues to point down, with annual average growth in industrial output decelerating from 3.4% in August to 2.8% in September, the lowest level recorded since December 2009.