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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SOUTH KOREA
South Korean industrial production growth missed estimates for October, coming in at -3.5% m/m, versus a -1.0% forecast, while September figures were revised down a touch. This puts the y/y pace at -1.1%, the first negative y/y print since September last year.
- Manufacturing capacity utilization fell back to 72.40%, a steep fall from last month's 75.1%. This is the lowest utilization levels since Q3 2020, see the chart below. Weaker external demand, as signified by falling export growth, is a likely part driver of this trend.
- In terms of other data, retail sales fell by -0.2% m/m, while the cyclical leading index was unchanged at -0.1.
Fig 1: South Korea IP Growth & Capacity Utilization Rates
Source: MNI - Market News/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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