S. Korea manufacturing likely to slowdown in 2016

In South Korea, the seasonally adjusted unemployment rate was 3.5% in September inched up to 3.4% in October. The consensus expected the figure to remain flat in October. 

A net drop in total hiring - by 9k jobs on a seasonally adjusted basis is seen in October due to a sharper fall in the number of job seekers. Hence, the details are believed to be less encouraging than the improved headline suggests, says Barclays.

Service economy has created job opportunities but in a slower pace. Construction and agriculture sectors, in contrast, failed to generate employment in the referred month. 

"If inventories do not clear sufficiently, we think the softness in export-led manufacturing could persist through to 2016", states Barclays.