Global growth canaries die

Wednesday, 22 March 2023

Pantheon with the note. Global economy slip, sliding away.

Korean working-day exports plunged 23.4% y/y in the first 20 days of March, worsening from a 15.6% drop in the full month of February.

This is a sign of continued weakness in global demand, as banking crises add to market worries. March is likely to be the six straight month of decline in Korean exports.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.