Korea: Industrial production accelerates in July
August 29, 2014
In July, industrial production jumped 3.4% over the same month last year, which marked the largest increase since February. The figure was well above market expectations of a 0.5% increase and exceeded June’s revised 0.4% expansion (previously reported: +0.6% year-on-year). In addition, industrial production recovered the ground lost in May when output fell 2.1%. According to the Korea National Statistics Office, July’s result reflected a broad-based improvement, particularly in manufacturing output.
A month-on-month comparison showed that industrial production increased a seasonally-adjusted 1.1% in July, which was down from the 2.6% increase in June. Annual average growth in industrial output inched up from 0.8% in June to 0.9% in July.