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Korea Industrial production April 2024

Korea: Industrial output rebounds in April

Industrial output expanded 2.2% in month-on-month seasonally adjusted terms in April, which contrasted March’s 3.0% decrease. The reading was largely driven by a notable rebound in manufacturing production. In contrast, electricity, gas and steam output fell heavily.

On an annual basis, industrial production grew 6.1% in seasonally adjusted terms in April, notably above March’s 2.8% expansion. Meanwhile, annual average industrial production growth rose to 2.2% in April (March: +0.9%). This signals an improving trend in the industrial sector.

Industrial output will recover this year from last, driven by higher manufacturing output as global electronics demand improves.

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