South Korea's exports likely contracted in October, falling for an 11th str...
SEOUL - South Korea’s exports likely contracted in October, falling for an 11th straight month, pressured by weak sales to China and sluggish global demand for semiconductors.
October shipments were seen slumping 13.8% from a year earlier, according to the median forecast of 15 economists polled, nearly matching the worst decline in 3-1/2 years in August, when exports fell a revised 13.9%. Preliminary data showed South Korea’s exports plunged 19.5% over the first 20 days of October from a year earlier, with chip sales diving 28.8% and sales to China falling 20.0%.
While the leaders of the world’s two biggest economies are working to agree on the text for a “Phase 1” trade agreement, U.S. President Donald Trump said on Monday he expected to sign a significant part of the trade deal with China ahead of schedule without elaborating on the details.“Though U.S.-China trade tensions are seen easing lately, the global manufacturing industry and external demand remain weak due to the mounting impact from tariffs,” Ahn So-eun, economist at IBK Securities.
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