Korea: Industrial output improves in May
Industrial output expanded 3.2% in month-on-month seasonally-adjusted terms in May, which contrasted April’s 0.6% decrease. The reading reflected a broad-based improvement, with activity in the manufacturing, electricity, gas and steam and mining and quarrying sub-sectors all improving in May.
On an annual basis, industrial output dropped 4.3% in seasonally adjusted terms in May, a smaller than April’s 8.0% fall and marking the best result since September 2022. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 4.8%, down from April’s minus 3.5%.