Korea Industry


Korea: Industrial production rebounds in September

November 6, 2014

In September, industrial production increased 1.9% over the same month last year, which contrasted the 2.8% decline recorded in August. September’s reading undershot the 2.8% rise that markets had expected. According to the Korea National Statistics Office, the result was mainly due to a strong rebound in manufacturing. Manufacturing output increased 2.0% year-on year, which contrasted the 2.7% contraction tallied in August.

A month-on-month comparison shows that industrial production increased a seasonally-adjusted 0.1% in September, which contrasted August’s 3.9% fall. As a result of the improved performance, annual average growth in industrial output increased from 0.5% in August to 1.0% in September.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 2.7% in 2014, which is down 0.4 percentage points from last month’s forecast. For 2015, panelists expect industrial output to increase 4.0%, which is down 0.3 percentage points compared to last month’s forecast.

Author:, Economist

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Korea Industry Chart

Korea Industry September 2014

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

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