South Korea’s industrial output has likely continued with its recovery last month following a major rebound in February, according to Societe Generale. Electronics sector is expected to have continued with the strength. Mobile phones are expected to have been the main driver, replacing semiconductors, which the main driver in February, said Societe Generale. Auto sector’s recovery rate is expected to have quickened as the rebound in auto production was more than just a seasonal rise.
According to trade data, metal products’ export grew sharply. Manufacturing production grew considerably in for two consecutive months in February and March. This is expected to be favorable for the economic growth outlook for the second quarter, noted Societe Generale.
