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Industrial Production Rises But Misses Estimates

SOUTH KOREA

Data just released showed industrial output fell 0.7% on the month in May against an expected expansion of 0.7%, the annual figure rose 15.6%, below estimates of 18.3%. Both figures were above the May print, however. The cyclical leading index printed 0.4 in May from 0.5.

  • Elsewhere Finance Minister Hong said that the recent comments about rate hikes from BoK Governor Lee should serve to slow liquidity into the housing market. Lee said last week that the Bank would begin normalising policy this year.

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