Korea: Industrial production moderates in February
March 31, 2011
In February, industrial production expanded 9.1% over the same month last year, which was below the 13.4% (previously reported: +13.7% year-on-year) increase recorded in January. The moderation was more pronounced than expected as market analysts saw industrial output moderating to a 9.6% rise. A month-on-month comparison does not corroborate the positive annual reading, as industrial production dropped a seasonally adjusted 2.33% over the previous month, which was nevertheless, above the 4.23% increase recorded in January. That said, the trend moderated, with annual average growth in industrial production expanding 14.0%, down from the 14.7% increase recorded in January.
Author: Armando Ciccarelli, Head of Data Solutions