Korea’s manufacturing sector is in for a painful year with bloated inventories and weak external demand set to drag on production. Data published earlier today showed that production of semiconductors fell another 17% m/m in February. The outlook for consumer spending is also downbeat as a sharp increase in debt servicing costs is set to take its toll on consumption. Also in this week's Weekly, we consider what impact the UK joining the CPTPP trade pact will have on the region.
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