South Korea's exports likely contracted for a 13th straight month in Decemb...
SEOUL - South Korea’s exports likely contracted for a 13th straight month in December, though at a much slower pace, as stabilizing chip prices and a recovery in Chinese demand offered a ray of hope for the trade-reliant economy.
The projected December fall, much better than a 14.4% decline seen in November, is expected to end a sequence of double-digit percentage declines that has lasted six months, a majority of economists said. The contraction in exports began in December last year as the economy, Asia’s fourth-largest, has been one of the nations worst-hit by cooling global demand in the wake of the U.S.-China trade war.
South Korea cut key policy rate KROCRT=ECI twice in July and October, joining a global easing trend, to support its faltering economy.
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