South Korean Nov industrial output +0.4% m/m, a rebound after losing for 4 straight months

South Korea November data:

• industrial output s/adj +0.4% m/m (expected -0.8%, prior revised to -3.5%)
• industrial output -3.7% y/y (expected -4.0%, prior -1.2%)
• service sector output s/adj -0.6% m/m (prior -1.1%)
• retail sales s/adj -1.8% m/m, a third consecutive monthly drop

South Korea is often referred to as a bellwether for the global economy. The rebound in IP in November is welcome, but I'd suggest that with COVID cases surging in China, and associated disruption to staffing and therefore activity there, the next few months are likely to be rocky.

Earlier re China:

• Italy begins testing all arrivals from China for COVID - wants all the EU to do so

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eur EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term