Korea: Industry reaches nine-month high in October
November 29, 2013
In October, industrial production expanded 3.0% over the same month last year, which contrasts the 3.9% drop recorded in September. The print came in well above market expectations of a 0.8% expansion.
Compared to September, industrial production rose 1.8% in seasonally-adjusted terms, which contrasts the 2.3% decline registered in September. As a result of the higher print, annual average growth in industrial production stepped up from minus 0.6% in September to minus 0.2% in October.
FocusEconomics Consensus Forecast panelists expect industrial production to rise 0.6% this year, which is down 0.1 percentage points from last month's forecast. For 2014, participants expect industrial output to pick up to 4.1%, which is down 0.2 percentage points over the previous month's Consensus.
Author: Dirina Mançellari, Senior Economist