South Korea - Car production picking up
It is too early to get excited about output figures in South Korea, but at least the car market seems to have turned the corner and to have begun the long climb back to where it was in 1997. Having plunged by nearly 30% in 1998 to a five year low, growth of 28.1% over the first two months of 1999 would look to have rectified the situation, but that would not be the actual case. Although output rose by 28.1% for the two months to 294,062 from 229,524, that is more a reflection on how bad the January 1998 result had been rather than how strong the current growth rate is. The 6.8% gain in February to 139,786 from 130,915 might be a better indicator.
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