Korea: Economic activity grows at robust pace in March
Latest reading: Economic activity grew 0.9% month on month in seasonally adjusted terms in March (February: +1.0% mom s.a.). The reading was supported by a jump in industrial output amid stronger production of chips and electronics parts, as well as by higher public spending. In contrast, services and construction output declined; the latter has fallen for eleven of the last fifteen months.
On an annual basis, economic activity rebounded, rising 1.8% in March (February: -0.8% yoy), the best result since April 2024. Accordingly, annual average economic activity growth rose to 0.7% in March (February: +0.6%).