Korea: Industrial activity deteriorates in July
Industrial output decreased 2.5% year-on-year in July, after dropping 0.5% in June, according to the latest release from the National Statistics Office for Korea. The drop follows downbeat manufacturing production.
On a monthly basis, industrial output grew 1.6% in seasonally-adjusted terms in July, which was well below June’s 7.2% expansion.
Lastly, annual average industrial production growth ticked down to 0.4% in July (June: 0.7%). The downturn reveals a deteriorating trend in the industrial sector.