Korea: Industrial production rebounds in November
December 28, 2012
In November, industrial production added 2.9% over the same month the previous year, which contrasted the 0.8% contraction recorded in October. The reading exceeded market expectations, which had industrial production expanding 0.8%.
Compared to the previous month, industrial production jumped a seasonally adjusted 2.27%, which was well above the 0.67% increase recorded in October. In fact, the reading marked the strongest gain in ten months. Despite the monthly increase, the trend continues to point down, with annual average growth in industrial output dropping from 2.2% in October to 2.0% in November, the lowest level recorded since December 2009.