Korea: Industrial production decelerates further in November
December 29, 2011
In November, industrial production expanded 5.6% over the same month the year before. The reading was below both the 6.3% increase recorded in October (previously reported: +6.2% year-on-year) and market expectations of a 6.0% rise. A month-on-month comparison paints a bleaker picture than the annual data, as industrial production contracted a seasonally adjusted 0.41% over the previous month, which followed a 0.60% contraction in October. As a result of the moderation in annual figures, the trend continues to deteriorate, with annual average growth in industrial production falling from 8.0% in October to 7.6% in November.