Global| Jan 12 2009Industrial Production: India, China, South Korea
Summary
India is the latest Asian country to report industrial production for November of last year. Contrary to expectations, industrial production in India, rose in November from 261.7 in October to 267.2 (Fiscal year beginning [...]
India is the latest Asian country to report industrial production for November of last year. Contrary to expectations, industrial production in India, rose in November from 261.7 in October to 267.2 (Fiscal year beginning April,1993=100). The year over year increase was 2.4% compared with a decline of 0.3% in October. The slight increase is, however, unlikely to reverse the downward trend that has persisted since November 2006
Among other large manufactures in Asia, China has reported a marked deceleration in the growth of its real gross value added (China's surrogate for industrial production) from 8.2% in October to 5.2% in November. South Korea reported a dramatic year over year decline in industrial production of 14.1% in November after a small decline of 2.3% in October. The year over year percent changes in industrial production for the three countries are shown in the attached chart. Growth in industrial production has been decelerating all through 2008 in the three countries, reflecting the global slowdown..
| Industrial Production | Nov 08 | Oct 08 | Sep 08 | 2007 | 2006 | 2005 |
|---|---|---|---|---|---|---|
| India (FY beginning April 1993=100) | 267.2 | 361.7 | 274.7 | -- | -- | -- |
| Year to Year % Change (NSA) | 2.38 | -0.34 | 5.45 | 9.92 | 10.55 | 7.91 |
| South Korea (2005=100) (NSA) | 109.5 | 125.4 | 118.2 | -- | -- | -- |
| Year to Year % Change (NSA) | -14.12 | -2.34 | 6.10 | 6.80 | 8.41 | 6.34 |
| China | -- | -- | -- | -- | -- | -- |
| Year to Year % Change in GVA (NSA) | 5.4 | 8.2 | 5.4 | 17.1 | 16.2 | 15.9 |
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