Korea Industry

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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%.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.1% in 2015, which is up 0.4 percentage points from last month’s forecast. For 2016, panelists expect industrial output to increase 3.5%.


Author:, Economist

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Korea Industry August 2015

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


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