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

Sino-Indian Ties

REUTERS SHOWCASE

Eyeing Stocks

Eyeing Stocks

Interview - EPFO chief urges green light to buy stocks  Full Article 

Stimulus Reports

Stimulus Reports

China cenbank injects $81 bln into major banks to support economy - reports  Full Article 

Ranbaxy Investigation

Ranbaxy Investigation

Ranbaxy says U.S. authorities seek information on pricing data.  Full Article 

Monsoon Update

Monsoon Update

Delayed retreat of monsoon rains to start this weekend  Full Article 

Financing Deal

Financing Deal

IndiGo agrees $2.6 billion aircraft finance deal with China's ICBC  Full Article 

Fed Policy Meeting

Fed Policy Meeting

Fed could hint on rate-hike plans as it prepares for policy turn  Full Article 

Grim Outlook

Grim Outlook

Sony deepens loss estimate on struggling smartphone business  Full Article 

Sugar Surplus

Sugar Surplus

India to produce surplus sugar for fifth straight year - industry body  Full Article 

Business Sentiment

Business Sentiment

China, Singapore slowdown weigh on Q3 Asia business sentiment   Full Article 

Reuters India Mobile

Reuters India Mobile

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