Korea Industry


Industry drops at fastest pace in four months

In June, industrial production declined 2.6% over the same month last year, which was worse than the 1.3% contraction seen in May. The print, which reached a four-month low, was worse than the 1.1% drop expected by the market.

In June, industrial production grew 0.4% in seasonally adjusted terms, which contrasts the 0.1% contraction observed in May. The trend continued its downward trajectory initiated in February 2009, with annual average variation in industrial production dropping from minus 0.6% in May to minus 0.9% in June.

FocusEconomics Consensus Forecast panellists expect industrial production to rise 1.8% this year, which is down 0.3 percentage points from last month's forecast. For 2014, participants expect industrial output to pick up to 4.9%.


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Korea Industry Chart

Korea Industry June 2013

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

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