Korea: Industrial production moderates in March
April 29, 2011
In March, industrial production expanded 8.7% over the same month last year, which was below the 9.2% (previously reported: +9.1% year-on-year) increase recorded in February. The moderation defied market analysts' expectations of an 11.2% rise. A month-on-month comparison does not corroborate the moderation suggested by the annual reading, as industrial production rose a seasonally adjusted 1.36% over the previous month, which contrasted the 2.46% drop recorded in February. That said, the trend moderated, with annual average growth in industrial production falling to 12.9%, down from the 14.0% increase recorded in February and marking the slowest pace since April last year.
Author: Armando Ciccarelli, Head of Data Solutions