SEOUL, KOREA- Korea's industrial output in June has turned to a positive growth within a month. The leading business indicator has also hit a record-high level since February 2011. Combined with the fact that the second-quarter gross domestic products rose in excess of the 1-percent level for the first time in nine quarters, as well as a rise in June indicators in production, investment, and consumption, economists are cautiously suggesting it might be possible to reach a second-half growth rate of more than 3 percent.
According to a report "June 2013 Industrial Activity Trend" published by the Korea Statistical Office on July 30, June industrial output rose 0.4 percent from the previous month. In April, output in the mining, manufacturing, gas and electricity industries rebounded to a positive trend (0.6%) for the first time this year, followed by a dip (-0.4%) in May. The sectors that showed the biggest increase were petrochemical refining (9.4%) and machine equipment (4.9%) that include semiconductor assembly.
