Korea: Industry slows in March
April 30, 2014
In March, industrial production increased 2.8% over the same month last year, which came in below the 4.1% rise observed in February. Moreover, the figure also undershot the 3.7% expansion the market had expected.
Compared to the previous month, industrial output grew 0.9% in seasonally-adjusted terms, which contrasted the 1.9% decrease recorded in February. The trend improved in March; annual average growth in industrial output rose from 0.3% in February to 0.7% in March.
FocusEconomics Consensus Forecast panelists expect industrial production to rise 1.8% this year, which is down 0.3 percentage points from last month's forecast. For 2015, participants expect industrial output to pick up to 4.9%.
Author: Ricardo Aceves, Senior Economist