Korea Industry

Korea

Korea: Industrial production increases for 3rd consecutive month

May 23, 2014

In April, industrial production grew 2.4% over the same month last year. The figure represented a mild deceleration compared to the revised 2.6% increase registered in March (previously reported: +2.8% year-on-year), but beat the 2.3% expansion the market had expected. May’s result marked the third consecutive month of expansion and reflected an increase in manufacturing production as well as in construction.

Compared to the previous month, industrial output added a mild 0.1% in seasonally-adjusted terms in April, which came in below the 0.9% increase tallied in March. Annual average growth in industrial output was steady at March’s 0.7% in April.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.2% in 2014, which is up 0.3 percentage points from last month’s forecast. For 2015, participants expect industrial output to increase 3.8%.


Author:, Senior Economist

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Korea Industry April 2014 1

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


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