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S Korea Oct retail sales slump, show weak growth momentum – Retail in Asia

Retail in Asia

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S Korea Oct retail sales slump, show weak growth momentum

Sales at South Korea’s top department and discount stores contracted simultaneously for the fourth time in five months in October, revised government data showed on Wednesday, underscoring weak consumer sentiment as Asia’s fourth largest economy continues to sputter.

Sales at department stores run by the country’s top three chain operators in October fell by 0.4 percent from a year earlier, the Ministry of Knowledge Economy said in a statement.