Korea: Industrial production accelerates in September
October 30, 2015
In September, industrial production increased 2.4% over the same month last year, which was much stronger than the 0.1% increase recorded in August and marked the fastest growth in over a year. The result also exceeded the 0.6% increase that the markets had expected. According to the Korea National Statistics Office, September’s expansion reflected a steep pick up in manufacturing production. The Statistics Office also reported that the construction, services and public administration sectors increased.
A month-on-month comparison corroborates the improvement suggested by annual data. Industrial production rose a seasonally-adjusted 1.9% in September, which was well above the 0.2% increase tallied in August. Moreover, annual average growth in industrial output increased in September from minus 1.2% to minus 1.1%.
Author: Carl Kelly, Economist