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Korea Industry July 2021

Korea: Industrial output growth dips in July

Industrial output expanded 7.9% compared to the same month a year earlier in July, which followed June’s 11.5% increase. The slowdown was most pronounced in export-oriented manufacturing, closely followed by domestic-oriented output deceleration. Notably, capacity utilization continued its ascension for the second consecutive month in July.

On a seasonally-adjusted monthly basis, industrial production rose at a more moderate pace of 0.4% in July (June: +2.3% mom). Meanwhile, annual average industrial production growth rose to 5.1% in July (June: +4.2%), signaling an improving trend in the industrial sector.

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