South Korean exports snapped a 14-month losing streak in February thanks to more...
SEOUL - South Korean exports snapped a 14-month losing streak in February thanks to more working days this year compared to last, although evidence of disruptions from the coronavirus were reflected outside the headline figures.
Overall shipments in February rose 4.5% year-on-year, trade ministry data showed on Sunday, beating a median forecast of a 3.4% rise, given 3.5 more working days from a year earlier. This compares with a 6.3% decline in January due to the Lunar New Year, a holiday which fell in February last year. This follows data on Saturday that showed factory activity in China contracted at its fastest ever in February, even worse than during the global financial crisis of 2008.
But a rise in chip demand and prices, and increased sales to other countries including the United States, were expected to partially negate impact from the coronavirus.
Norge Siste Nytt, Norge Overskrifter
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