South Korean exports plunged in August for a tenth consecutive month, dimming optimism surrounding a flurry of data that suggested Asia’s fourth-biggest economy might have sailed clear of an economic storm.
The country is the first major exporter to post trade data for August. Hopes of Seoul leading the Asian recovery had been growing after leading companies such as Samsung Electronics and Hyundai Motor posted strong profits in the second quarter. Earlier this week, South Korea reported a 2 rise in industrial output in July from the previous month, beating economists’ forecasts.
