In May, industrial production rose 2.6% over the same month last year, which followed on a flat reading recorded in April. The reading overshot market expectations, which had industrial production expanding a meagre 0.6%. Compared to the previous month, industrial production rose a seasonally adjusted 1.1%, faster than the 0.9% expansion recorded in April. Annual average growth in industrial output decelerated from 4.9% in April to 4.4% in May, which marked the lowest level since December 2009. On 28 June, the Ministry of Finance lowered its GDP forecast for this year to 3.3% from 3.7% amid a global slowdown. In the economic outlook for the second half of 2012 released in July, the Bank of Korea followed suit and revised its GDP forecast for this year down to 3.0% from a previously expected 3.5%. For 2013, the Bank now expects GDP to expand 3.8%, down from the previous 4.2% projection
Industrial production beats expectations
June 29, 2012
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Korea Economic News
October 13, 2016
At its 13 October monetary policy meeting, the Bank of Korea (BoK) announced that it will hold the base rate constant at a record low of 1.25%, which was largely in line with market expectations.
October 5, 2016
In September, consumer prices rose 0.6% over the previous month, which contrasted the 0.1% decrease in August and overshot the 0.2% increase the markets had expected.
October 3, 2016
Korea’s Customs Services reported that exports totaled USD 40.9 billion in September, which represented a 5.9% contraction over the USD 43.4 billion recorded in the same month last year.
September 30, 2016
The forward-looking business confidence indicator (BSI) for the manufacturing sector produced by the Bank of Korea (BoK) rose from 74 points in September to 75 points in October.
September 30, 2016
In August, industrial production accelerated and expanded 2.3% year-on-year, which was up from both the 1.6% increase registered in July and the 1.6% rise the markets had expected.