Published:
Economy worsens in Korea
This ups the chances of a rate cut at the upcoming central bank meeting.
DBS Group Research noted:
Economic data have worsened further over the past one month, boosting the chances of a rate cut at the central bank meeting this Thursday.
Industrial production shrank continuously in July and August, at a pace of over 1% on average per month. Even considering a V-shaped recovery in automobile production in September (after the labor strikes in August), industrial production may not be able to avoid a QoQ contraction in 3Q.
Meanwhile, manufacturing PMI fell to only 45.7 in September, dampening the hope of a rapid pickup in the overall industrial activity.
Read Here
Advertise
Sign Up
