Industrial output in South Korea was reported to have shrunk at a monthly rate of 1.2% in May, after a revised up 2.4% surge in April.In annual terms, the nations industrial production expanded 3.5% i
South Korea industrial production shrinks 1.2% in May
Industrial output in South Korea was reported to have shrunk at a monthly rate of 1.2% in May, after a revised up 2.4% surge in April.
In annual terms, the nation’s industrial production expanded 3.5% in May, after a revised up 6.2% increase in April.
May has been the 10th straight month of year-on-year output growth, data by Statistics Korea showed.
The actual data exceeded market consensus of a 3% growth.
The South Korean Won was 0.63% stronger on the day against the US Dollar, with the USD/KRW currency pair last trading at 1,377.51.
The exotic Forex pair has pulled back from a 10-week high of 1,394.52, as South Korea is poised to extend trading hours for the onshore Won on July 1st to bolster trading volumes and lure more investors.
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