S.Korea Nov dept store sales rise seen at 11-mth high

SEOUL Fri Dec 7, 2012 6:32am IST

Stocks

   

SEOUL Dec 7 (Reuters) - Sales last month at South Korea's top three department store chains rose for the first time in six months and by the fastest annual pace in 11 months, preliminary data showed on Friday, adding to signs of the economy turning around.

Sales at department stores run by Hyundai Department Store , Lotte Shopping and Shinsegae rose 10.2 percent in November from a year earlier, the finance ministry's monthly report estimated.

It snapped a five-month run of annual declines in their sales and marked the fastest growth since December 2011.

Sales at the country's top three discount store chains fell by 2.1 percent from a year earlier, improving from a 6.6 percent decline in October but marking the eighth month of fall this year, according to the report.

The Ministry of Knowledge Economy will release final November sales figures for the department and discount stores later this month.

Data last week showed exports by Asia's fourth-largest economy rose 3.9 percent in November from a year earlier, beating the market's consensus forecast and gaining for two successive months for the first time this year. (Reporting By Se Young Lee; Editing by Choonsik Yoo)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

India Economy

REUTERS SHOWCASE

Reliance Projects

Reliance Projects

Exclusive: Reliance plans $13 billion projects including new refinery.  Full Article 

Chopper Deal

Chopper Deal

India nears $2.5 billion deal for Boeing military helicopters.  Full Article 

Coal Scam

Coal Scam

CBI drops coal scam case against Kumar Mangalam Birla.  Full Article 

Low Stocks

Low Stocks

Indian power station coal stocks lowest since 2012 blackouts.  Full Article 

Markets This Month

Markets This Month

Tata Motors, M&M top Sensex gainers  Full Article 

Google Drones

Google Drones

Google is testing unmanned drones to deliver anything from dog food to medicine.  Video 

#RiceBucketChallenge

#RiceBucketChallenge

In India, rice replaces ice in bucket challenge.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage