South Korea’s Exports Fall 0.4% in May on Europe
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South Korea’s exports declined for a third month in May, adding pressure on the central bank to hold off from raising interest rates at a meeting next week.
Overseas sales fell 0.4 percent in May from a year earlier, after a revised 4.8 percent decline in April, the Ministry of Knowledge Economy said in a statement today. The median estimate in a Bloomberg News survey of 14 economists was for a 1.1 percent drop. A separate report showed today that inflation held at a 21-month low of 2.5 percent last month.