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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South KoreaSouth Korea Industrial Production MoM fell to -4.8% in August 2026
FMPMonthlyReleased September 2026
South Korea Industrial Production MoM fell to -4.8% in August 2026, released September 2026, down 5.3% from July's 0.5% reading. The reading missed the 0.5% consensus by 5.3%. Industrial Production MoM has now declined for 3 consecutive months. Over the past 3 months, Industrial Production MoM averaged 3.3%, vs -1.13% in the prior 3-month window. Industrial Production MoM is now the lowest in 36 months.
Latest Release
-4.8
Actual
0.5
Consensus
0.5
Previous
Median Absolute Error
±2.47 percentage points
across last 12 releases
Last Call
Sep 2026
Predicted: 1.65
Actual: -4.8
Error: +6.45
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| S&P 500 | ▲ Direct | +0.48 | INDEX | Moves with | → View |
| KOSPI | ▲ Direct | +0.42 | INDEX | Moves with | → View |
| USD/KRW | ▼ Inverse | −0.40 | FOREX | Moves against | → View |
| XAU/USD | ▲ Direct | +0.38 | COMMODITIES | Moves with | → View |
| Hang Seng | ▲ Direct | +0.26 | INDEX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Industrial Production MoM (South Korea) was reported at -4.8% in September 2026. This missed the market consensus of 0.5% by 5.3%. The reading fell from the previous value of 0.5%. Trailing 12-month context per ETL data through September 2026. Over the past 12 months, the indicator has averaged -0.12%, ranging from -4.8% to 6.4% across 11 releases.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 0.6%, up from the prior three at 0.57%. Volatility over the past year (σ 3.4%) is higher than the prior year (σ 2.07%). In September readings over the past 3 years, Industrial Production MoM has averaged 0.57%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with S&P 500 (Bullish S&P 500). A secondary relationship exists with KOSPI, positively correlated (Bullish KOSPI). Over the last 12 releases, the Sigmacast model's median absolute error is 2.48%.
WHAT TO WATCH NEXT
The next release is scheduled for October 29, 2026. Same-country events in the next 14 days include Consumer Confidence (Oct 26) and GDP Growth Rate YoY (Oct 26).
Auto-generated from current model state · Refreshes on each release · Last update September 2026.
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Industrial Production MoM - KR
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About Industrial Production MoM — South Korea
DEFINITION
Industrial Production MoM (Month-over-Month) is a key economic indicator that measures the change in the total output of the manufacturing, mining, and utilities sectors within a specific country or region over a one-month period. This indicator provides valuable insights into the health and growth of the industrial sector, which is a crucial component of a country's overall economic performance. It is closely monitored by investors, policymakers, and analysts as it can impact inflation, employment, and consumer spending. A positive MoM change in industrial production indicates a growing economy, while a negative change may signal a slowdown or contraction.
WHY THIS INDICATOR MATTERS
Manufacturing and factory-order series capture cyclical inflection earlier than aggregate output, and have outsized influence on industrial-sector equities. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Aug 2026): actual -4.8 %, consensus 0.5 %. Prior reading (Jul 2026): 0.2 %. Before that (Jun 2026): 6.4 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with S&P 500 (Bullish S&P 500, r=0.48) — a useful reference for index-focused traders.
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Economic Calendar - KR Events
| Thursday, October 22, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 01:00 | KR | Interest Rate Decision | 3 | 3 | 3 | 3.00 | Low |
| Monday, October 26, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 21:00 | KR | Consumer Confidence | 106.6 | 107 | 106.90 | Medium | |
| 23:00 | KR | GDP Growth Rate YoY | 3.7 | 3.8 | 3.80 | Medium | |
| 23:00 | KR | GDP Growth Rate QoQ | 0.6 | 1 | 1.00 | Medium | |