Korea: Industrial output growth gains steam in June
Industrial output rose 4.7% year on year in seasonally-adjusted terms in June, which was above May’s 4.3% increase. The reading reflected a broad-based upturn, with activity in the manufacturing, electricity, gas and steam and mining and quarrying sub-sectors all improving in June.
On a monthly basis, factory output increased 1.9% in seasonally-adjusted terms in June, significantly above May’s 0.2% expansion and marking the best result since December 2021. Meanwhile, annual average industrial production growth fell to 5.2% in June (May: +6.1%), which marked a one-year low.