South Korean Won: Trade surplus seen widening – ING
ING’s Asia-Pacific research notes that South Korea’s upcoming data should show stronger industrial production and a widening trade surplus, even as export and import growth moderates. Technology and semiconductor exports are expected to underpin the surplus.
ING’s Asia-Pacific research team anticipates South Korea’s upcoming economic data to reveal a stronger industrial production and a widening trade surplus, despite moderating export and import growth. Technology and semiconductor exports are expected to drive the surplus. On Wednesday, the nation will release August industrial production figures, with market consensus predicting a YoY acceleration to 4.5% from 3.6% in July.
Monthly output growth is projected at 0.5%. In September, trade data is anticipated to show a deceleration in both exports and imports to 61.2% YoY and 20.7% YoY, respectively. Despite the slower growth, the trade surplus is expected to expand to $38.4 billion, fueled by ongoing strength in technology and semiconductor exports. By September, headline CPI inflation is forecast to ease to 3.0% YoY from 3.1% in August, while core inflation is projected to decelerate more significantly to 2.8% YoY from 3.4%.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
