Industrial production in South Korea climbed 0.6 percent year-on-year in July 2019, following a downwardly revised 2.6 percent drop in the previous month and compared with market consensus of a 1.6 percent decrease. Manufacturing output grew 0.8 percent, after shrinking 2.7 percent in June. On a monthly basis, industrial production advanced 2.6 percent, following a downwardly revised 0.1 percent gain in the prior month and well above market expectations of 0.5 percent growth. Industrial Production in South Korea averaged 8.65 percent from 1976 until 2019, reaching an all time high of 38.90 percent in July of 1976 and a record low of -25.30 percent in January of 2009.
Industrial Production in South Korea is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in South Korea to stand at 0.50 in 12 months time. In the long-term, the South Korea Industrial Production is projected to trend around 2.00 percent in 2020, according to our econometric models.