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South Korea top retailers sales drop in June

RBR Staff Writer Published 05 July 2012

South Korea's top retail stores sales shrank in June, when compared to the same month last year, according to the data released by the Ministry of Strategy and Finance.

Sales at department stores run by the nation's top three chain operators decreased 1.2% year-on-year in June, reversing from a slim 1% gain in May, reported Reuters.

South Korea's top three discount store chains sales declined 7.4% in June from a year ago, marking the third month of annual sales decrease.

Sales of locally produced automobiles were down by 3.7% in June from a year earlier, after recording a 0.7% year-on-year increase in May.

The ministry said uncertainties surrounding the global as well as domestic economy's prospects are likely keep suppressing private consumption for the time being.