South Korea Export Momentum Cools, Led by Slower U.S. Shipments
01-Oct-2024
The pace of South Korea's export growth slowed in September, with shipments to the United States losing momentum, 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 a slower 3.4% growth in shipments to the United States in September after increasing 11% in August.
The monthly trade of South Korea, Asia's fourth-largest economy, is considered a bellwether for world trade and is the first to be released among major exporting economies.
News Source:- https://money.usnews.com/investing/news/articles/2024-09-30/south-koreas-export-growth-slows-as-external-demand-moderates
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