Korea: Industrial production slows in June
July 31, 2012
In June, industrial production rose 1.6% over the same month last year, which came in below a revised 2.9% expansion in May (previously reported: +2.6% year-on-year). The reading undershot market expectations, which had industrial production expanding a stronger 2.1%. Compared to the previous month, industrial production fell a seasonally adjusted 0.4%, contrasting the 1.3% expansion recorded in May. Annual average growth in industrial output decelerated from 4.4% in May to 4.1% in June, which marked the lowest level since December 2009.