South Korea’s September trade data is out.Exports fell by just 1.8 per cent in September, according to Dow Jones.
Economists surveyed by Bloomberg forecasted exports to fall 5.5 per cent in September.
This is a deceleration from the 6.2 per cent decline reported for August.
This is the first major economic data point with complete September data.
Economists around the world pay careful attention to South Korea’s exports as it is reliable proxy measure of demand in China, the second largest economy in the world. Goldman Sachs and UBS refer to it as the economy’s “canary in the coalmine.”
Countries around the world will be reporting September manufacturing PMI reports today.