Industrial production rose 15.6 percent in May on year, Statistics Korea reported Wednesday, the fastest rate since June 2010. On month, it fell 0.7 percent.
Industrial production rose 12.4 percent on year, according to Statistics Korea Monday, the sixth consecutive increase in the figure and the fastest growth in the statistic in over two years.
Korea's industrial output index hit a record high in the first quarter as Asia's fourth-largest economy is recovering from pandemic-driven slumps, supported by robust exports, data showed Monday.
On month, industrial output increase was 2.1 percent, the best showing since June last year. Restaurant and lodging output month-on-month surged 20.4 percent as people went out to eat on eased social distancing restrictions.
Korea's industrial output declined for the first time in eight months in January, data showed Tuesday, in the latest sign that the country's economic recovery momentum still remains weak amid the pandemic.
Industrial output improved in November, although the impact of the most recent wave of coronavirus infections may be felt this month.
Industrial output fell in October after a rise a month earlier. Manufacturing output, consumer spending and investment also fell after a strong September.
A rebound in the economy glimpsed in June turned out to be a mirage as Korean households burned through the government’s emergency relief grant stimulus money.Industrial output, spending and even investment either slowed down or shrank in July.
Industrial output report on Friday, industrial output, consumer spending and corporate investment in June significantly improved. When compared to the previous month, all three increased, the first on-month increase in six months.
Korea's economy continued to become more trade-dependent in 2018, with imports accounting for more than 14 percent of overall supplies here, a central bank report showed Wednesday.