South Korea's industrial production up 0.4%

On the back of better-than-expected GDP.

According to BBVA Research, South Korea June industrial production expands by 0.4% m/m, s.a., in line with consensus expectations, from -0.1% the previous month.

Here's more:

The June IP outturn comes after last week’s better-than-expected preliminary Q2 GDP of 1.1% q/q, s.a.. We maintain our projection of 2.7% for full-year growth in 2013 and expect the Bank of Korea (BOK) to cut interest rates by another 25 bps in the coming months in view of headwinds to growth.

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