South Korea Industrial Production Rises In November

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Industrial production in South Korea climbed 17.8% year-on-year in November following the 0.2% growth in the previous month, the National Statistical Office reported on Wednesday, exceeding market expectations for a 16.5% increase. Working day adjusted, industrial output was up the same 17.8%.

On a monthly basis, industrial production grew 1.4%, reversing some of the 3.8% decrease in the preceding month.

The statistical office also said that service industry activity rose 3.3% annually in November, faster than the 1.3% increase in October. Month-on-month, services activity slid 1.2%.

Meanwhile, the composite leading index climbed 1.3% from the previous month in November, while the 12-month smoothed change in composite leading index, which predicts the turning point in the business cycle, grew 1.2% from the prior month.

Industrial production in South Korea climbed 17.8% year-on-year in November following the 0.2% growth in the previous month, the National Statistical Office reported on Wednesday, exceeding market expectations for a 16.5% increase. Working day adjusted, industrial output was up the same 17.8%. (Market News Provided by RTTNews)