South Korea's exports likely contracted for a fifth straight month in July as global demand remained weak despite the easing of coronavirus-related lockdowns, a Reuters poll showed on Wednesday.
SEOUL - South Korea’s exports likely contracted for a fifth straight month in July as global demand remained weak despite the easing of coronavirus-related lockdowns, a Reuters poll showed on Wednesday.
July exports were expected to contract 9.7% from a year earlier, according to the median forecast of 12 economists polled by Reuters. That was slightly milder than a 12.8% plunge in preliminary data for the first 20 days of the month and a 10.9% decline in June. “The pace of recovery will likely remain subdued, given crippling demand due to a sharp economic downturn in advanced economies and a possibility of a renewed U.S.-China trade dispute,” she added.
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