ID :
28629
Wed, 11/05/2008 - 14:52
Auther :
Shortlink :
http://m.oananews.org//node/28629
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S. Korea's retail sales up 4.6 pct in September
(ATTN: ADDS with more information, comments from para 4)
By Lee Joon-seung
SEOUL, Nov. 5 (Yonhap) -- South Korea's retail sales grew 4.6 percent annually in
September as consumers spent more on car fuel, groceries and recreational
products, a government report showed Wednesday.
Total retail sales volume reached 20.99 trillion won (US$16.52 billion) in the
cited month, compared with 20.08 trillion won a year earlier, according to the
report by the National Statistical Office (NSO).
Total sales also grew from 20.22 trillion won tallied for the month before,
although year-on-year growth numbers fell noticeably from the 10.4 percent climb
reported in August and 12.3 percent reached in July.
The NSO, however, said that excluding monthly consumer price gains, actual growth
in sales was down 2.0 percent, which is the first since January 2005.
"There was a general decline in sales for most goods with durable items like
auto, consumer electronics and furniture all falling into negative territory,"
said Kim Han-sik, head of the short-term service statistics division.
He added that drop in grocery sales that grew 4.3 percent from 9.6 percent in the
previous month affected growth rates. Groceries make up a quarter of all sales
checked by the statistical office.
"This is partly due to the Chuseok holidays falling earlier in the month compared
to the year before that hurt buying reported in the month," he said. Chuseok, the
three-day-long fall harvest holidays, fuels demand for groceries and other
non-durable goods.
Sales of durable goods like autos and consumer electronics posted minus growth of
7.3 percent and 3.7 percent each, with numbers for furnitures dropping 13.4
percent from the year before.
The report then said decline in consumption caused both large retail outlet and
department store sales to drop 1.3 percent and 3.5 percent vis-a-vis September
2007. Numbers for convenient stores, supermarkets and other small-time stores
were up by double digits, indicating that people were buying necessities from
neighborhood shops that are usually more cheap than larger outlets.
yonngong@yna.co.kr
(END)
By Lee Joon-seung
SEOUL, Nov. 5 (Yonhap) -- South Korea's retail sales grew 4.6 percent annually in
September as consumers spent more on car fuel, groceries and recreational
products, a government report showed Wednesday.
Total retail sales volume reached 20.99 trillion won (US$16.52 billion) in the
cited month, compared with 20.08 trillion won a year earlier, according to the
report by the National Statistical Office (NSO).
Total sales also grew from 20.22 trillion won tallied for the month before,
although year-on-year growth numbers fell noticeably from the 10.4 percent climb
reported in August and 12.3 percent reached in July.
The NSO, however, said that excluding monthly consumer price gains, actual growth
in sales was down 2.0 percent, which is the first since January 2005.
"There was a general decline in sales for most goods with durable items like
auto, consumer electronics and furniture all falling into negative territory,"
said Kim Han-sik, head of the short-term service statistics division.
He added that drop in grocery sales that grew 4.3 percent from 9.6 percent in the
previous month affected growth rates. Groceries make up a quarter of all sales
checked by the statistical office.
"This is partly due to the Chuseok holidays falling earlier in the month compared
to the year before that hurt buying reported in the month," he said. Chuseok, the
three-day-long fall harvest holidays, fuels demand for groceries and other
non-durable goods.
Sales of durable goods like autos and consumer electronics posted minus growth of
7.3 percent and 3.7 percent each, with numbers for furnitures dropping 13.4
percent from the year before.
The report then said decline in consumption caused both large retail outlet and
department store sales to drop 1.3 percent and 3.5 percent vis-a-vis September
2007. Numbers for convenient stores, supermarkets and other small-time stores
were up by double digits, indicating that people were buying necessities from
neighborhood shops that are usually more cheap than larger outlets.
yonngong@yna.co.kr
(END)
