OECD indicator suggests Korean economy is heading towards recession
- 5 years ago
A figure indicating early signs of turning points in the business cycle... strongly suggests the Korean economy is heading towards a recession.
Data by the OECD released Sunday show the composite leading indicator, which has been falling since March last year,... was down again in August by a tenth of a point from the previous month to 99-point-2.
That's the longest period... since the aftermath of the Asian financial crisis between 1999 and 2001... when the figure dropped for 20 consecutive months.
The composite leading indicator takes into account various economic figures including those from the Bank of Korea, Statistics Korea and the country's main stock index, the KOSPI.
Data by the OECD released Sunday show the composite leading indicator, which has been falling since March last year,... was down again in August by a tenth of a point from the previous month to 99-point-2.
That's the longest period... since the aftermath of the Asian financial crisis between 1999 and 2001... when the figure dropped for 20 consecutive months.
The composite leading indicator takes into account various economic figures including those from the Bank of Korea, Statistics Korea and the country's main stock index, the KOSPI.