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Korea Industrial production April 2023

Korea: Industrial output dips in April

Industrial output fell 1.2% in month-on-month seasonally-adjusted terms in April, which contrasted March’s 5.3% increase. April’s reading was largely due to a deterioration in manufacturing production. In contrast, electricity, gas and steam production dropped at a softer pace.

On an annual basis, factory output dove 8.0% in seasonally-adjusted terms in April, which was significantly better than March’s 9.8% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.5% in April, down from March’s minus 2.4% reading.

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