Korea Industry


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:, Senior Economist

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Korea Industry Chart

Korea Industry March 2014

Note: Year-on-year and annual average growth rate in %.
Source: Korea National Statistics Office (KOSTAT) and FocusEconomics calculations.

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