Korea: Industrial production accelerates in May
June 30, 2011
In May, industrial production expanded 8.3% over the same month last year, which was above the 6.9% increase recorded in April and exceeded market analysts' expectations of a 7.1% rise. A month-on-month comparison corroborates the improvement suggested by annual data, as industrial production expanded 1.70% over the previous month, which contrasted the 1.67% drop recorded in April. Despite the positive monthly result, the trend moderated, with annual average growth in industrial production falling from an 11.9% increase recorded in April to 10.9% in May, which marks the slowest pace in more than a year.
Author: Armando Ciccarelli, Head of Data Solutions