Industrial production in South Korea contracted 3.0 percent year-on-year in August of 2020 following a revised 2.4 percent drop in July and compared with market expectations of a 2.8 percent fall. On a monthly basis, industrial output dropped 0.7 percent, after a 1.9 percent rise in the prior month and compared with market expectations of a 1.5 percent fall.

Industrial Production in South Korea averaged 8.45 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 October 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
-3.00 -2.40 39.40 -25.40 1976 - 2020 percent Monthly
2015=100, NSA


Calendar GMT Actual Previous Consensus TEForecast
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 -2.5% -0.5% -1.2% -0.5%
2020-09-28 11:00 PM Aug -3.0% -2.4% -2.8% -2.5%
2020-10-29 11:00 PM Sep -3.0% 1.1%
2020-11-29 11:00 PM Oct
2020-12-29 11:00 PM Nov


News Stream
South Korea Industrial Output Falls Further
Industrial production in South Korea contracted 3.0 percent year-on-year in August of 2020 following a revised 2.4 percent drop in July and compared with market expectations of a 2.8 percent fall. On a monthly basis, industrial output dropped 0.7 percent, after a 1.9 percent rise in the prior month and compared with market expectations of a 1.5 percent fall.
2020-09-28
South Korea Industrial Output Drops More than Expected
Industrial production in South Korea declined 2.5 percent year-on-year in July 2020, compared with market consensus of a 1.2 percent drop and after a 0.5 percent fall in a month earlier. This marked the fourth consecutive month of decrease in industrial output, with manufacturing contracting much steeper (-2.4 vs - 0.5 percent in June). On a monthly basis, industrial output increased by 1.6 percent, compared with consensus of a 1.9 percent rise and following a downwardly revised 7 percent gain in June.
2020-08-30
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
In South Korea, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities.