Korea Exports decline
Posted by WARREN MOSLER on November 15th, 2011
Not wrong to think ‘falling off a cliff’ after reading this.
Global demand is softening as public sector deficit spending remains insufficient to offset the relatively low levels of private sector ‘borrowing to spend’:
S.KOREA REVISED OCT EXPORTS +8.0 PCT YR/YR VS PROVISIONAL +9.3 PCT REPORTED EARLIER
S.KOREA SAYS OCT EXPORTS TO EU FALL 20.3 PCT YR/YR, SHARPEST DROP SINCE SEPT 2009
S.KOREA SAYS OCT EXPORTS TO U.S. FALL 3.6 PCT YR/YR, SHARPEST DROP SINCE DEC 2009
S.KOREA SAYS OCT EXPORTS TO CHINA RISE 14.6 PCT YR/YR, SLOWEST GROWTH SINCE APRIL
November 15th, 2011 at 12:12 pm
[...] declined a staggering 20% year-over-year in October, confirming the recent negative PMI numbers (hat tip to Warren Mosler, who also passed along a report of “mayhem” in European debt markets [...]
November 20th, 2011 at 10:27 pm
[...] declined a staggering 20% year-over-year in October, confirming the recent negative PMI numbers (hat tip to Warren Mosler, who also passed along a report of “mayhem” in European debt markets [...]