Industrial production in South Korea contracted 0.5 percent year-on-year in June 2020 following an upwardly revised 9.8 percent contraction (vs preliminary -9.6 percent), falling much less than the 4.9 percent drop expected by consensus. Manufacturing contracted 0.4 percent after dropping 9.9 percent in May. On a monthly basis, industrial output rebounded a sharp 7.2 percent after plunging 7 percent, also well above consensus of a 2.1 percent expansion.

Industrial Production in South Korea averaged 8.49 percent from 1976 until 2020, reaching an all time high of 39.40 percent in July of 1976 and a record low of -25.40 percent in January of 2009. This page provides the latest reported value for - South Korea Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. South Korea Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Statistics Korea

Industrial Production in South Korea is expected to be 1.20 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 1.80 in 12 months time. In the long-term, the South Korea Industrial Production is projected to trend around 2.00 percent in 2021, according to our econometric models.

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South Korea Industrial Production

Actual Previous Highest Lowest Dates Unit Frequency
-0.50 -9.80 39.40 -25.40 1976 - 2020 percent Monthly
2015=100, NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-28 11:00 PM Mar 7.1% 11.3% -1.9% -1.6%
2020-05-28 11:00 PM Apr -4.5% 7.4% -0.5% -1.5%
2020-06-29 11:00 PM May -9.6% -5.1% -4.5% -3.7%
2020-07-30 11:00 PM Jun -0.5% -9.8% -4.9% -7.5%
2020-08-30 11:00 PM Jul -0.5%
2020-09-28 11:00 PM Aug
2020-10-29 11:00 PM Sep 1.1%
2020-11-29 11:00 PM Oct


News Stream
South Korea Industrial Production Shrinks 0.5% YoY
Industrial production in South Korea contracted 0.5 percent year-on-year in June 2020 following an upwardly revised 9.8 percent contraction (vs preliminary -9.6 percent), falling much less than the 4.9 percent drop expected by consensus. Manufacturing contracted 0.4 percent after dropping 9.9 percent in May. On a monthly basis, industrial output rebounded a sharp 7.2 percent after plunging 7 percent, also well above consensus of a 2.1 percent expansion.
2020-07-30
South Korea Industrial Output Falls Further
Industrial production in South Korea contracted 9.6 percent year-on-year in May 2020 following an upwardly revised 5.1 percent expansion in April (vs preliminary 4.5 percent), falling much more than the 4.5 percent expected by consensus. Manufacturing was the main dragger, falling 9.8 percent after dropping 5.1 percent in April. On a monthly basis, industrial output contracted a sharp 6.7 percent for the second straight month, also more than expectations of a 1.4 percent decline.
2020-06-29
South Korea Industrial Production Tanks 4.5% YoY
Industrial production in South Korea contracted 4.5 percent year-on-year in April 2020 following an upwardly revised 7.4 percent expansion in March (vs preliminary 7.1 percent), falling much more than the 0.5 percent expected by consensus. Manufacturing was the main dragger, falling 4.7 percent after suring 8 percent in March. On a monthly basis, industrial output contracted a sharp 6 percent (vs +4.7 percent in March), also more than expectations of a 3.2 percent decline.
2020-05-28
South Korea Industrial Output Unexpectedly Rise in March
Industrial production in South Korea rose 7.1 percent year-on-year in March 2020, easing from a downwardly revised 11.3 percent gain in February but beating market expectations of a 1.9 percent drop. Manufacturing production grew 7.6 percent, less than a 11.9 percent expansion in the previous month. On a monthly basis, industrial output went up 4.6 percent, the biggest rise since February 2009, rebounding from a 3.8 percent fall in in the prior month and above forecasts of a 1.3 percent decline, as demand for display panels and cars received an unexpected boost from lengthy shutdowns in competing Chinese factories amid the coronavirus pandemic.
2020-04-28

South Korea Industrial Production
In South Korea, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities.