Terrible export data from South Korea for November, worse than expect.
Exports -14% y/y
- expected -11%, prior -5.7%
- exports to China collapsed to +25.5% y/y in November
- semiconductor exports worse again, -29.8% y/y
Imports +2.7% y/y
- expected +0.2%, prior +9.9%
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I posted yesterday that:
That was in reference to the plunge in industrial output, this export data won't doo too much to soothe that concern.
