South Korea’s export growth slows as external demand moderates

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

South Korea’s export growth slows as external demand moderates

South Korea’s export growth slowed in September, with shipments to the ******* States barely increasing, in an outcome that may support market expectations for an easing of monetary policy as early as next week.

Mongkol Chuewong | Moment | Getty Images

South Korea’s export growth slowed in September, with shipments to the ******* States barely increasing, in an outcome that may support market expectations for an easing of monetary policy as early as next week.

Exports increased 7.5% in September from a year ago, decelerating from an 11.2% rise in the previous month, the customs service agency reported on Tuesday.

The result, which beat the 6.5% consensus estimate from analysts, was driven by slower shipments growth of 3.4% to the ******* States in September after increasing 11% in August.

Tuesday’s data comes amid growing market expectations that the Bank of Korea may cut policy interest rates from 3.50%, the highest since late 2008, at an upcoming rate-setting meeting next Friday as growth concerns overshadow inflation worries.

Imports climbed 2.2%, falling short of the 3.0% rise forecast by analysts.

The preliminary trade surplus widened to $6.66 billion from $3.77 billion a month earlier.

In September, there were also fewer working days due to a longer break for the Chuseok thanksgiving holiday.

This is the hidden content, please

• Sign In
• or
• Sign Up

#South #Koreas #export #growth #slows #external #demand #moderates

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up