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.