July industrial output: Singapore up, Korea down

Industrial output figures from Asia are showing a mixed picture.

The Economic Development Board reported yesterday that Singapore's industrial output in July rose 19 percent from a year ago, led by electronics. On a seasonally adjusted basis, industrial production rose 2.9 percent from the previous month, reversing the 3.5 percent decline in June.

The picture in South Korea is less rosy. South Korea's July industrial production increased 12.8 percent from a year ago for the sixth straight month of double-digit growth, the government said this morning. However, production was down 0.1 per cent from the previous month.

Looks like South Korea needs the interest rate cut by the Bank of Korea two weeks ago.