Korea Industry


Korea: Industrial output bounces back and expands in June

July 30, 2014

In June, industrial production increased 0.6% over the same month last year. Industrial production recovered part of the ground lost in May, when output fell 2.1%, but fell short of the 1.5% increase the markets had expected. According to the Korea National Statistics Office, June’s result reflected a broad-based improvement, particularly in manufacturing output.

A month-on-month comparison showed that industrial production jumped a seasonally-adjusted 2.9% in June and recovered from the 2.8% contraction registered in May.

Annual average growth in industrial output inched up from 0.6% in May to 0.8% in June.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.1% in 2014, which is down 0.1 percentage points from last month’s forecast. For 2015, participants expect industrial output to increase 3.8%.

Author:, Senior Economist

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Korea Industry Chart

Korea Industry June 2014

Note: Year-on-year and annual average var. of industrial production index in %.
Source: Korea National Statistics Office (KOSTAT).

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