Korea: Economic activity recovers in June
Latest reading: Economic activity increased 2.3% on a seasonally adjusted month-on-month basis in June, following a 0.4% decline in the prior month. June’s reading was the strongest since June 2020.
Relative to the previous month’s figures, readings in June improved for industry (+6.4% in seasonally adjusted month-on-month terms vs -2.9% in May) and construction (+4.1% vs +3.7% in May). In contrast, the reading for services worsened in June (+0.7% vs +1.0% in May).
On a year-on-year basis, economic activity increased 3.5% in June, following a 3.0% increase in the prior month.