Industrial production in South Korea declined 2.7 percent year-on-year in January 2019, following a revised 0.2 percent drop in the previous month and compared to market expectations of a 0.5 percent decrease. Manufacturing output fell 2.5 percent after remaining unchanged in the previous month. On a monthly basis, industrial production declined 2.6 percent, following a downwardly revised 0.2 percent increased and compared to market consensus of a 0.9 percent fall. Industrial Production in South Korea averaged 8.74 percent from 1976 until 2019, reaching an all time high of 39.40 percent in July of 1976 and a record low of -25.40 percent in January of 2009.
Industrial Production in South Korea is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in South Korea to stand at 3.80 in 12 months time. In the long-term, the South Korea Industrial Production is projected to trend around 2.50 percent in 2020, according to our econometric models.