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S Korea Sept exports set for slowest growth in two years – Reuters poll

SEOUL : South Korea’s exports likely grew at the slowest pace in nearly two years in September, hurt by a weakening global economy led by China, a Reuters survey showed on Thursday.

The country’s outbound shipments were forecast to have grown 2.9 per cent from the same month a year ago, according to the median forecast of 17 economists, slowing from a 6.6 per cent gain in the previous month.

That would extend year-on-year gains in shipments to a 23rd consecutive month but mark the slowest pace in the streak, following three months of single-digit growth rates.

Shipment data out of Korea provides an early health check on global trade activity as manufacturers of chips to cars in Asia’s fourth-largest economy import massive amounts of raw materials and straddle a wide swathe of the world supply chain.

The slackening momentum for South Korea’s exports comes amid weakening global demand as many countries raise borrowing costs…

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