Korea: Industrial output records lowest expansion since September 2021 in July
August 31, 2022
Industrial output grew 3.0% year on year in seasonally-adjusted terms in July (June: +4.6% s.a. yoy). July's outturn marked the worst reading since September 2021. The reading was partly due to a deterioration in manufacturing output. In addition, electricity, gas and steam output lost steam.
On a seasonally-adjusted monthly basis, industrial output fell 1.3% in July (June: +1.7% mom). Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at an over one-year low of 4.7%, down from June's 5.2%.