South Korea Industrial Output Unexpectedly Falls

2026-05-28 23:13 By Joshua Ferrer 1 min. read

South Korea’s industrial production fell by 0.7% month-on-month in April 2026, surprising markets that had expected a 0.3% gain and slipping from an upwardly revised 0.6% increase in the previous month.

The decline was driven by weaker manufacturing activity, which dropped 0.8%, as output of automobiles and petroleum refining fell sharply.

Auto production tumbled 10.0% amid lower output of large and hybrid passenger vehicles, while petroleum refining sank 19.4% due to weaker diesel and gasoline production.

In contrast, semiconductor output rose 3.1%, while pharmaceutical production jumped 13.3%.

Services activity also contracted 1.0%, weighed down by declines in finance and insurance as well as wholesale and retail trade, though information and communication output rose 4.3%.

On a yearly basis, industrial production increased 1.5% in April, falling short of market forecasts for a 2.2% rise and slowing from a revised 3.9% gain in March.



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South Korea Industrial Output Unexpectedly Falls
South Korea’s industrial production fell by 0.7% month-on-month in April 2026, surprising markets that had expected a 0.3% gain and slipping from an upwardly revised 0.6% increase in the previous month. The decline was driven by weaker manufacturing activity, which dropped 0.8%, as output of automobiles and petroleum refining fell sharply. Auto production tumbled 10.0% amid lower output of large and hybrid passenger vehicles, while petroleum refining sank 19.4% due to weaker diesel and gasoline production. In contrast, semiconductor output rose 3.1%, while pharmaceutical production jumped 13.3%. Services activity also contracted 1.0%, weighed down by declines in finance and insurance as well as wholesale and retail trade, though information and communication output rose 4.3%. On a yearly basis, industrial production increased 1.5% in April, falling short of market forecasts for a 2.2% rise and slowing from a revised 3.9% gain in March.
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