S.Korea industrial output grows in April for 10th month
| By Manager Online | 31 May 2010 13:26 |
 | | This photo retrieved May 31, 2010 is from www.google.co.th. South Korea's industrial growth has risen for the tenth consecutive month in April. Month-on-month, output in April rose 0.2 percent. | |
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May 31, 2010
SEOUL (AFP) - South Korea's industrial output grew for the 10th straight month in April in a sign that the economy is bouncing back quickly from the global downturn, official figures showed Monday. Production in mining and manufacturing rose 19.9 percent last month compared to the same month a year earlier, Statistics Korea said.
"Production in April was driven by robust demand for semiconductors and electronics parts, though output of automobiles and others declined," it said in a report.
Output growth slowed from March's revised 22.5 percent but the numbers have remained strong since they moved into positive territory last July.
Month-on-month, output in April rose 0.2 percent.
The recovery remains driven mainly by exports, which rose 30 percent in April compared to a year earlier.
The state-run Korea Development Institute has upgraded its growth forecast for South Korea this year to 5.9 percent from 5.5 percent, far above the finance ministry's 5.0 percent prediction.
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