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.
Author: Cecilia Simkievich, Economist