Industrial production in South Korea jumped 7.3% year-on-year in May 2022, accelerating from a 3.5% growth in April and topping expectations for a 3.1% increase. On a monthly, seasonally-adjusted basis, industrial output rose 0.1% in May, rebounding from a 3.3% slump in April in the latest sign that Asia’s fourth-largest economy maintains a mild recovery momentum amid heightened external uncertainty. The statistics agency said the rebound in industrial output in May was led by robust service production, as well as an increase in facility and construction investment. "The production of semiconductor-related equipment suffered setbacks due to disruptions in parts supplies. Last month, investment rebounded as such problems were resolved," Eo Woon-sun, a senior Statistics Korea official, told reporters. source: Statistics Korea
Industrial Production in South Korea averaged 8.35 percent from 1976 until 2022, 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. 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 July of 2022.
Industrial Production in South Korea is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Industrial Production is projected to trend around 2.50 percent in 2023, according to our econometric models.