South Korean industrial production likely to have dropped in February

South Korean industrial production data for the month of February is set to be released tomorrow. According to a DBS Bank research report, the industrial production is likely to have fallen 0.5 percent year-on-year, as compared with the 0.1 percent growth seen in the prior month.

This is expected to mirror the fall in exports and manufacturing PMI in February. Exports dropped 11.1 percent, whereas manufacturing PMI came in at 47.2. Domestic demand might have begun to rebound a bit, but not enough to counter the drag from the external sector.

Consumer sentiment had risen 2 points to 99.5 in February, owing to the easing of supply-side inflation and the recovery in stock market, but still below the neutral level of 100.