Korea: Industrial production picks up in August
September 30, 2011
In August, industrial production expanded 4.8% over the same month last year, which was above the 4.0% (previously reported: +3.8% year-on-year) increase recorded in July but fell short of market expectations of a 6.1% rise. A month-on-month comparison provides a bleaker picture than the annual data, as industrial production contracted 1.93% over the previous month, which contrasted the 0.33% increase recorded in July. Despite the pick-up in annual figures, the trend continued to moderate, with annual average growth in industrial production falling from 9.1% in July to 8.3% in August, thus marking the slowest pace since February 2010.
Author: Armando Ciccarelli, Head of Data Solutions