Korea skyline

Korea Industry March 2019

Korea: Industrial production wobbles again in March

Industrial production in the mining, manufacturing, and gas and electricity sectors dipped 2.8% over the same month a year prior in March, following the revised 3.4% decline registered in February (previously reported: -2.7% year-on-year). Meanwhile, the less-volatile average annual growth in industrial production inched down to 1.1% in March from 1.2% in February.

Output in the manufacturing sector—which accounts for the majority of industrial production—continued to fall in March, albeit at a softer pace than in February (March: -2.9% yoy; February: -3.5% yoy). The decline in manufacturing came on the back of a second consecutive drop in both production and shipments, while inventory levels decreased in the month. Meanwhile, the average factory capacity utilization rate increased to 71.5% in March from 70.5% in February.

A month-on-month comparison adjusted for seasonality paints a slightly rosier picture, with industrial production increasing 1.4% in March, contrasting the 2.6% drop recorded in February.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest