Korea: Decline in industrial output softens in June
July 31, 2020
Mining, manufacturing, and electricity and gas output declined 0.5% year-on-year in June, after slumping 9.8% in May, according to the National Statistics Office for Korea. A significantly slower decline in manufacturing output drove the reading.
On a monthly basis, industrial output grew 7.2% in seasonally-adjusted terms in June, rebounding from May’s 7.0% fall and marking the best result since February 2009.
Meanwhile, annual average industrial production growth accelerated to 0.7% in June (May: +0.6%). This signals an improving trend in the industrial sector.