Retail sales in South Korea climbed 3.7 percent year-on-year in November 2019, accelerating from a downwardly revised 2.0 percent rise in the previous month. It was the strongest gain in retail trade since August. On a monthly basis, retail sales jumped 3 percent, rebounding from a 0.4 percent drop in October. Retail Sales YoY in South Korea averaged 3.89 percent from 1996 until 2019, reaching an all time high of 20.20 percent in May of 2000 and a record low of -21.50 percent in July of 1998. source: Statistics Korea

Retail Sales YoY in South Korea is expected to be 2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in South Korea to stand at 3.90 in 12 months time. In the long-term, the South Korea Retail Sales YoY is projected to trend around 6.00 percent in 2020, according to our econometric models.


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South Korea Retail Sales YoY

Actual Previous Highest Lowest Dates Unit Frequency
3.70 2.00 20.20 -21.50 1996 - 2019 percent Monthly
NSA



Calendar GMT Actual Previous Consensus TEForecast
2019-09-29 11:00 PM Aug 4.1% -0.3% 0.4%
2019-10-30 11:00 PM Sep 3.3% 4.1% 2.9%
2019-11-28 11:00 PM Oct 2.1% 3.1% 3.1%
2019-12-29 11:00 PM Nov 3.7% 2% 3.1%
2020-01-30 11:00 PM Dec 3.7% 2.7%


News Stream
2019-11-28
South Korea Retail Sales Lose Steam
South Korea's retail sales rose 2.1 percent from a year earlier in October 2019, after a downwardly revised 3.1 percent increase in the previous month. On a monthly basis, retail trade declined 0.5 percent following a 2.3 percent decline in the prior month.

2019-10-30
South Korea Retail Trade Growth Slows in September
South Korea's retail sales rose 3.3 percent from a year earlier in September 2019, after a 4.1 percent increase in the previous month. Growth was mainly drive by consumer durables, which went up 10.2 percent (vs 0.6 percent in August). On a monthly basis, retail trade declined 2.2 percent following a 3.9 percent gain in the prior month.

2019-09-29
South Korea Retail Sales Rebound in August
South Korea's retail sales jumped 4.1 percent from a year earlier in August 2019, recovering from a 0.3 percent drop in the previous month. Sales at duty free shop rose the most (30.3 percent), followed by non-store retailers (16.6 percent), department stores (6.3 percent), and convenience stores (6 percent). By contrast, sales at specialized retailers fell 3.5 percent and those at supermarkets and general stores declined 1.9 percent. On a monthly basis, retail trade climbed 3.9 percent.


South Korea Retail Sales YoY
In South Korea, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

South Korea Consumer Last Previous Highest Lowest Unit
Consumer Confidence 100.40 100.90 120.60 69.40 points [+]
Retail Sales MoM 3.00 -0.40 5.50 -12.40 percent [+]
Retail Sales YoY 3.70 2.00 20.20 -21.50 percent [+]
Consumer Spending 223925.40 222265.10 223925.40 6809.67 KRW Billion [+]
Disposable Personal Income 1890779.40 1836741.90 1890779.40 2866.70 KRW Billion [+]
Personal Savings 35.00 34.60 42.70 13.40 percent [+]
Consumer Credit 1572659.90 1556091.90 1572659.90 142746.90 KRW Billion [+]
Bank Lending Rate 3.18 3.20 17.01 3.18 percent [+]
Economic Optimism Index 92.00 92.00 117.00 55.00 Net Balance [+]
Gasoline Prices 1.35 1.31 1.84 0.54 USD/Liter [+]
Households Debt To GDP 92.90 92.10 92.90 1.40 percent of GDP [+]
Consumer Confidence Current Conditions 96.00 93.00 117.00 25.00 [+]
Consumer Confidence Economic Expectations 109.00 112.00 122.00 49.00 [+]
Consumer Confidence Financial Expectations 103.00 103.00 107.00 82.00 [+]
Consumer Confidence Major Purchases Expectations 97.00 96.00 97.00 73.00 [+]
Consumer Confidence Price Trends 139.00 139.00 163.00 129.00 [+]
Consumer Confidence Savings Expectations 97.00 97.00 102.00 82.00 [+]
Consumer Confidence Unemployment Expectations 110.00 121.00 121.00 41.00 [+]