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Sales at department stores, discount chains up in August
By Park Hyung-kiPublished : Sept. 12, 2014 - 21:25
Sales at local department stores and discount chains rose in August, preliminary government data showed Friday.
According to the data by the Finance Ministry, department store sales increased 11.7 percent on-year in August, following a 2 percent gain tallied in July.
Sales at discount chains also expanded 3.1 percent in August, rebounding from the previous month’s 4.6 percent decline, the report showed.
Sales of domestically produced passenger vehicles, however, dropped 4.8 percent in August, while gasoline sales fell 6.2 percent over the same period, the report showed.
On the latest economic conditions, the ministry said that the economic recovery remains weak, though inflation and employment conditions are showing signs of stabilization.
The report added that investment sentiment continues to contract and consumption recovery is “not robust enough,” posing potential challenges for the domestic economy. (Yonhap)
According to the data by the Finance Ministry, department store sales increased 11.7 percent on-year in August, following a 2 percent gain tallied in July.
Sales at discount chains also expanded 3.1 percent in August, rebounding from the previous month’s 4.6 percent decline, the report showed.
Sales of domestically produced passenger vehicles, however, dropped 4.8 percent in August, while gasoline sales fell 6.2 percent over the same period, the report showed.
On the latest economic conditions, the ministry said that the economic recovery remains weak, though inflation and employment conditions are showing signs of stabilization.
The report added that investment sentiment continues to contract and consumption recovery is “not robust enough,” posing potential challenges for the domestic economy. (Yonhap)
