Korea: Industrial production rebounds in April
May 31, 2012
In April, industrial production was flat over the same month last year, which followed the revised 0.7% expansion recorded in March (previously reported: +0.3% year-on-year). The reading undershot market expectations, which had industrial production expanding 0.3%. Compared to the previous month, industrial production rose a seasonally adjusted 0.9%, contrasting the revised 2.9% contraction seen in March (previously reported: -3.1% month-on-month). Annual average growth decelerated to a 4.9% expansion in April from a 5.5% increase in March, which marked the lowest level since December 2009. The Bank of Korea expects GDP to expand 3.5% this year and 4.2% in 2013.