Korea: Industrial output deteriorates in January
Industrial output fell 1.3% month on month in seasonally adjusted terms in January (December: -0.5% mom). Looking at the details of the release, the contraction in manufacturing output widened in January, while electricity, gas and steam output climbed at a stronger pace. Meanwhile, mining and quarrying output also expanded.
On a seasonally adjusted annual basis, industrial production rose at a more moderate pace of 5.8% in January (December: +9.6% yoy). Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at a one-year high of minus 0.6%, up from December’s minus 2.6% reading.