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.