Korea: Industrial production declines unexpectedly
November 30, 2012
In October, industrial production contracted 0.8% over the same month last year, which is the worst result observed in nine months. The figure contrasted both the 0.7% expansion recorded in September as well as market expectations, which had industrial production expanding 1.0%. Compared to the previous month, industrial production rose a seasonally adjusted 0.60%, which was down from the 0.74% increase recorded in September. As a result of the monthly drop in annual terms, the trend continues to point down, with annual average growth in industrial output falling from 2.8% in September to 2.2% in October.