SEOUL South Korean exports in November fell for the 12th month in a row and far more than expected, denting hopes for the global manufacturing sector stabilizing as a much-awaited China-U.S. trade deal is still in darkness.
SEOUL South Korea's central bank left interest rates steady on Friday even as it trimmed growth and inflation projections, underlining a cautious view on the economy in the face of global risks and cementing market bets for more policy easing next year.
SEOUL When Lee Gyu-il, 55, a veteran banker at South Korea's largest lender lost his job early this year, he felt he had little choice but to set up his own business, joining the ranks of a legion of older workers feeling stuck in an economic rut.
SEOUL South Korean exports in October fell for an 11th consecutive month and by the most in nearly four years as shipments to China kept slowing and computer chip prices plunged, data showed on Friday.
SEOUL South Korea's economic growth slowed more than expected in the third quarter, and though exports showed some signs of recovery the overall outlook was clouded by a domestic spending slump and intensifying global trade frictions.
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.