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The first 20 days of May had seen a slump in South Korean exports. The country’s exports dropped a total of 20.3% from a year earlier as U.S.- and E.U.-bound shipments grew inactive, indicating that the coronavirus contagion dragged global demand.
However, the numbers came out better than the 27.6% decline in April. More so, economic analysts deemed that trade data may have fallen to its lowest level as the country’s trade partners lift quarantine restrictions.
“Exports look like they’re faring better than last month. It’s possible exports bottomed out in April,” said economist Chun Kyu-yeon at Hana Financial Investment.
Meanwhile, imports dropped 16.9%, way milder than the 18.5% record monitored a month earlier. The figures had resulted in a provisional trade deficiency of $2.68 billion for the current quarter, according to the data released by the Korea Customs Service on Thursday.
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
Australia had seen its employment rate dropping 1.1% between mid-June and mid-July, weekly data showed on Tuesday. In addition to this, the southeastern state of Victoria recorded the sharpest plunge in employment as the state suffers from ...
The reimplementation of virus-related lockdowns in some states dragged the U.S. economic outlook in the past month, according to economists in a Reuters poll who also warned that the monitored rebound in employment may reverse by the end of ...
KYC Policy