South Korea's exports contracted for a fourth month in March but at a slowe...
SEOUL - South Korea’s exports contracted for a fourth month in March but at a slower rate in a sign of continued strain on the trade reliant economy, putting pressure on policymakers to shift to an easing stance to ward off growing external risks.
Overseas sales slid 8.2 percent in annual terms, slightly outperforming a 8.7 percent decline tipped in a Reuters survey but extending the contraction that begin in December. A continued slide in exports puts increasing pressure on policymakers to offer stimulus or shift to an easing stance as slowing global growth and the China-U.S. trade war slows Asia’s fourth largest economy.
The trade data comes on top of a recent batch of weak indicators, such as February factory output that shrank to a two-year low, piling pressure on manufacturers across auto and petrochemical industries.
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