South Korea’s exports dropped by a huge 10.9% in dollar terms between May 2014 and May 2015, the biggest annual decline since the depths of the Great Recession in August 2009.
South Korean exports are a huge deal, and several economists view this figure as a global economic “canary in a coal mine.”
Korean export data comes out very early compared to other major data releases, and Korea counts the huge economies of China, Japan, Europe, and the U.S. as major partners. That makes Korea’s big export-focused industries a good barometer for the rest of the world.
The post This global economic ‘canary in the coal mine’ hasn’t looked this sick since the Great Recession appeared first on Trunews:.
from Trunews: http://ift.tt/1G1EGQB
via IFTTT
No comments:
Post a Comment