Technical Analysis

South Korean Nov industrial output +0.4% m/m, a rebound after losing for 4 straight months


South Korea November data:

  • industrial output s/adj +0.4% m/m (expected -0.8%, prior revised to -3.5%)
  • industrial output -3.7% y/y (expected -4.0%, prior -1.2%)
  • service sector output s/adj -0.6% m/m (prior -1.1%)
  • retail sales s/adj -1.8% m/m, a third consecutive monthly drop

South Korea is often referred to as a bellwether for the global economy. The rebound in IP in November is welcome, but I’d suggest that with COVID cases surging in China, and associated disruption to staffing and therefore activity there, the next few months are likely to be rocky.

Earlier re China:

eur

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