Recovery continues in SK, industrial production +8.0% y/y, its best since February

  • +5.4% m/m
  • both y/y and m/m well above expected (+1.7% and +3% respectively

Retail sales +1.7% m/m

South Korea is another of the Asian countries that have taken the COVID-19 outbreak seriously and have largely contained its spread. Not without setbacks and a continuing slow trickle of new cases but the country is doing much, much better than Europe and the US. (ps. ICYMI Taiwan yesterday recorded 200 consecutive days without a locally transmitted case.)