S. Korea's industrial output rises for 11th consecutive month in May
Post Date: 01 Jul 2010 Viewed: 512
South Korea saw a gain in its industrial output for the 11th consecutive month in May amid an economic recovery, a government report showed Wednesday.
According to the report by Statistics Korea, South Korea's mining and manufacturing sectors grew 21.5 percent year-on-year last month in terms of production.
Meanwhile, the average operating rate of the manufacturing sector stood at 82.8 percent, a 15-year high since June 1995 when it hit 83.2 percent.
The May gain can be attributed to strong performances in semiconductors and electronics parts as well as in the machinery sector, the Statistics Korea said.
The data came amid signs of the economy marking a faster-than- expected recovery overall, thanks to brisk export conditions.
Earlier this month, the Finance Ministry revised up its economic outlook for this year to a 5.8 percent growth from the 5 percent set earlier in the year.