Korea: Industrial production falls in May
June 28, 2013
In May, industrial production declined 1.5% over the same month last year, which contrasted both the 1.6% rise observed in April as well as market expectations of a 1.3% expansion.
Compared to the previous month, industrial output declined 0.4% in seasonally adjusted terms, which contrasted the 0.6% increase seen in April. As a result of the negative reading, the trend continues to point downwards, with annual average growth in industrial output dropping from minus 0.2% in April to minus 0.6% in May.
FocusEconomics Consensus Forecast panellists expect industrial production to rise 0.5% this year, which is down 0.3 percentage points from last month's forecast. For 2014, participants expect industrial output to pick up to 2.7%.