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.
Industrial Production in South Korea averaged 8.54 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 June of 2020. source: Statistics Korea
Industrial Production in South Korea is expected to be 0.50 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.