Retail in Asia

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S Korea Apr retail sales drop y/y

South Korea’s retail sales shrank in April, preliminary government data showed on Tuesday, underscoring lacklustre private consumption as slowing economic growth and elevated oil prices continue to suppress spending.

Sales at the country’s top department stores fell 3.8 percent in April from a year earlier after gains in the previous two months, the Ministry of Strategy and Finance said in a report.

(Source: CNBC)