South Korean exports probably fell in July for the eighth month in a row, but at...
SEOUL - South Korean exports probably fell in July for the eighth month in a row, but at a slower pace, as a trade rift with Japan dragged on an economy already hurting from weak global demand and the U.S.-China tariff war, a Reuters poll showed.
“It is hard to see as a sign of recovery, since it results from one more working day from a year earlier,” said Lee Sang-jae, an economist at Eugene Investment & Securities. Earlier in July, the Bank of Korea delivered a surprise interest rate cut, while shaving this year’s growth forecast to the lowest in a decade, as a brewing dispute with Japan piled more pressure on the trade-dependent economy.
The poll also estimated that South Korea’s imports this month would drop 8.1% from a year earlier, hit by Japan’s export curbs on key chip and display production materials as well as weak domestic demand.
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