Retail in Asia

In Markets

S Korea May dept store sales rise 1.0 pct y/y after fall in Apr

South Korea’s key retail sales on Sunday showed that private consumption in Asia’s fourth largest economy remained sluggish in May at a time when exports are being dampened by a prolonged debt crisis in Europe.

Sales at the country’s top department stores in May grew 1.0 percent from a year earlier but fell short of making up for April’s 3.4 percent decline, data from the Ministry of Knowledge Economy showed.

Still, this was slightly better than a 0.2 percent decline initially estimated by the Ministry of Strategy and Finance earlier this month.

(Source: CNBC)