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Politics : Formerly About Applied Materials

AMAT 259.21

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Dec 12 9:30 AM EST

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To: Proud_Infidel who wrote (41833)	2/1/2001 10:55:36 AM
From: Proud_Infidel	Read Replies (1) of 70976

Korea's Industrial Output Growth Slows in December 2000 February 1, 2001 (SEOUL) -- Korea's overall growth in industrial production slowed 4.7 percent in December 2000 from a year ago for the fourth consecutive month following a 15 percent decline in September, 11.4 percent in October and 6.7 percent in November. The National Statistical Office reported on Jan. 30 that facility investment fell 2.1 percent year on year following a minus 1.5 percent recorded in November, while the production rate at manufacturing companies averaged 74.8 percent. Due to contractions in investment and consumption, a recession is expected in the first half of this year, but the economy will rebound in the second half, said government officials. However, the state-run Korea Development Institute said the recent slowdown is not temporary and could be long-lived if restructuring should be delayed. Many economists expect that industrial activities might worsen in January as working days were not as many as in December because of the Lunar New Year Holidays. We expect the economy to bottom out in the second half, said Park Dong-chol, an economy analyst at Hyundai Economic Research Institute, on Tuesday. Yet, it's still unclear that the Korean economy will make a visible recovery or fall into a recession. (Business Newspaper, Korea) Subject 50522

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