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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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From: russwinter11/29/2004 12:46:29 PM
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SOUTH KOREAN INDUSTRIAL OUTPUT FALLS 11-29-2004

According to the South Korean National Statistics Office, the country’s industrial output unexpectedly fell in October by 0.9%. In September industrial production measured 9.3% year-on-year. The October fall was the largest drop since June this year, and was largely due to increased credit card debt restricting domestic spending, and increased oil prices. Meanwhile South Korean GDP growth slowed to 4.6% in 3Q04 down from 5.5% in 2Q04, and average crude oil imports during 3Q04 fell to 2.1mb/d compared with 2.14mb/d over 2Q04.
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