South Korea's June industrial output slips, misses expectations

[SEOUL] South Korea's industrial output fell by a seasonally adjusted 0.2 per cent in June from May, data showed on Friday, missing market expectations.

The median forecast in a Reuters survey of analysts was for the June industrial output to be 0.2 per cent higher than in May.

The June reading follows a revised 2.7 per cent rise in May, better than a preliminary 2.5 per cent gain reported earlier.

On an annual basis, industrial output rose 0.8 per cent in June after a revised 4.7 per cent gain in May, outperforming a median 0.5 per cent rise tipped in the Reuters survey.

The statistics agency data showed service sector output rose by 1.0 per cent in seasonally adjusted terms in June on-month after a revised 0.2 per cent gain in May.

REUTERS