Korea: Industrial production beats expectations in September
October 30, 2011
In September, industrial production expanded 6.8% over the same month last year, which was above the 4.7% (previously reported: +4.8% year-on-year) increase recorded in August and beat market expectations of a 4.5% rise. A month-on-month comparison corroborates the improvement seen in the annual data, as industrial production expanded a seasonally adjusted 1.09% over the previous month, which contrasted the 1.93% drop recorded in August. As a result of the pick-up in annual figures, the trend edged upwards for the first time in eleven months, with annual average growth in industrial production rising from 8.3% in August to 8.6% in September.
Author: Armando Ciccarelli, Head of Data Solutions