Korea: Industrial production rebounds in August
September 30, 2015
In August, industrial production increased 0.3% over the same month last year, which contrasted the 3.2% decrease recorded in July. The result also overshot the 2.0% decline that the markets had expected. According to the Korea National Statistics Office, August’s modest increase mainly reflected a rebound in manufacturing production. The Statistics Office also reported that the construction and services sectors tallied increases, while public administration contracted.
A month-on-month comparison corroborates the improvement suggested by annual data. Industrial production rose a seasonally-adjusted 0.4% in August, which contrasted the 0.3% decrease tallied in July. Moreover, annual average growth in industrial output increased in August from minus 1.4% to minus 1.1%.
Author: Carl Kelly, Economist