Retail Sales in Korea

Korea Retail Sales | Economic News & Forecasts

Korea - Retail Sales

The economy contracted in Q2 amid the fallout from the pandemic, with the all-important external sector leading the downturn. Turning to Q3, recent data indicates a recovery is underway: In August, the unemployment rate fell, which suggests an improving labor market, while both consumer confidence and manufacturing PMI improved. Moreover, business confidence also improved throughout the period August-September. Less positively, however, exports declined in year-on-year adjusted terms throughout the first 20 days of September. Meanwhile, new U.S. sanctions against Huawei that took effect on 15 September are likely to pummel vital electronics exports ahead. On the policy front, the government proposed a fourth supplementary budget worth USD 6.7 bn on 10 September to bolster the economy amid ongoing pandemic related headwinds.

Korea - Retail Sales Data

2015   2016   2017   2018   2019  
Retail Sales (annual variation in %)2.4  3.9  3.7  5.6  1.8  

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Korea Retail Sales Chart


Korea Retail
Note: Annual variation of retail sales in %.
Source: Korea National Statistics Office and FocusEconomics calculations.

Korea Facts

Value Change Date
Bond Yield1.681.55 %Dec 31
Exchange Rate1,1560.21 %Dec 31

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