SEOUL South Korean exports plunged 19.5% over the first 20 days of October from a year earlier, pressured by weak sales to China and frail global demand for semiconductors, dealing a fresh blow to a tottering economy.
SEOUL South Korea's central bank cut its policy interest rate on Wednesday, as expected, and left the door open for further easing although a split vote on the move suggested the next reduction may not be imminent.
SEOUL South Korea recorded an annual fall in consumer prices for the first time in September while exports shrank for a 10th consecutive month, data showed on Tuesday, reinforcing expectations of further policy easing from the central bank.
SEOUL Deflation pressure is the biggest domestic risk facing South Korea's economy and its central bank should cut interest rates aggressively, a senior economist at credit rating agency S&P told Reuters on Wednesday.
SEOUL South Korea's consumer inflation faltered to its slowest on record in August while second quarter economic growth was revised down on weaker exports, firming up the case for central bank rate cuts as early as next month.
SEOUL, Sept 1 South Korea's exports tumbled in
August for a ninth consecutive month, on sluggish demand from
its biggest buyer, China, and depressed prices of computer chips
globally, government data showed on Sunday.
SEOUL South Korea's exports tumbled in August for a ninth consecutive month, on sluggish demand from its biggest buyer, China, and depressed prices of computer chips globally, government data showed on Sunday.
SEOUL South Korea's central bank kept its benchmark interest rate unchanged on Friday but is widely expected to ease at the next meeting to support the faltering economy.
SEOUL South Korea has drafted the most aggressive budget spending plan since the 2008-2009 global financial crisis for next year as its trade-reliant economy is buffeted by growing economic threats both at home and from abroad.
SEOUL South Korea's central bank will likely keep interest rates unchanged on Friday after last month's easing but looks certain to cut it at the next meeting as the economy cools, a Reuters survey showed.