Korea: Industrial production slows in October
November 30, 2011
In October, industrial production expanded 6.2% over the same month last year, which was below the 6.9% (previously reported: +6.8% year-on-year) increase recorded in September but beat market expectations of a 5.2% rise. A month-on-month comparison paints an even bleaker picture than the annual data, as industrial production contracted a seasonally adjusted 0.74% over the previous month, which contrasted the 1.15% rise recorded in September. As a result of the moderation in annual figures, the trend deteriorated markedly, with annual average growth in industrial production falling from 8.6% in September to 8.0% in October.
Author: Armando Ciccarelli, Head of Data Solutions