Korea Industry


Korea: Industrial production rebounds in June

July 31, 2015

In June, industrial production increased 1.2% over the same month last year, which contrasted the 3.0% decline recorded in May and well overshot the 1.0% decline that the markets had expected. According to the Korea National Statistics Office, June’s expansion mainly reflected a rise in manufacturing production. The Statistics Office also reported that the construction, services and public administration sectors tallied increases.

A month-on-month comparison corroborates the improvement suggested by annual data. Industrial production expanded a seasonally-adjusted 2.3% in June, which contrasted the 1.6% decline tallied in May. However, annual average growth in industrial output held at minus 0.8% for the third consecutive month, which marks the lowest level in more than six years.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 3.1% in 2015, which is up 0.4 percentage points from last month’s forecast. For 2016, panelists expect industrial output to increase 3.5%.

Author:, Economist

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Korea Industry Chart

Korea Industry June 2015

Note: Year-on-year and annual average var. of industrial production index in %.
Source: Korea National Statistics Office (KOSTAT).

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