Korea: Industrial production slows in April
May 31, 2011
In April, industrial production expanded 6.9% over the same month last year, which was below the 9.0% increase recorded in March (previously reported: +8.7% year-on-year). The reading undershot market analysts' expectations of an 8.6% rise. A month-on-month comparison points to a stronger moderation than suggested by the annual data, as industrial production contracted a seasonally adjusted 1.54% over the previous month, which contrasted the 1.70% rise recorded in March. In addition, the trend moderated, with annual average growth in industrial production falling from the 12.9% increase recorded in March to 11.8% in April, which marks the slowest pace in a year.
Author: Armando Ciccarelli, Head of Data Solutions