Korea Industry


Industrial production falls in May

In May, industrial production declined 1.5% over the same month last year, which contrasted both the 1.6% rise observed in April as well as market expectations of a 1.3% expansion.

Compared to the previous month, industrial output declined 0.4% in seasonally adjusted terms, which contrasted the 0.6% increase seen in April. As a result of the negative reading, the trend continues to point downwards, with annual average growth in industrial output dropping from minus 0.2% in April to minus 0.6% in May.

FocusEconomics Consensus Forecast panellists expect industrial production to rise 0.5% this year, which is down 0.3 percentage points from last month's forecast. For 2014, participants expect industrial output to pick up to 2.7%.


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Korea Industry Chart

Korea Industry May 2013

Note: Year-on-year and annual average growth rate in %.
Source: Korea National Statistics Office (KOSTAT) and FocusEconomics calculations.

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