Retail sales in South Korea rebounded 1.7 percent year-on-year in May 2020 after declining 2.2 in the previous month, as the coronavirus outbreak softened and retail activity gradually reopens. On the bright side, consumption of durables surged 13.9 percent following a 10.4 percent increase. On a monthly basis, retail sales grew 4.6 percent following a 5.3 percent expansion in the previous month.
Retail Sales YoY in South Korea averaged 3.79 percent from 1996 until 2020, 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. This page provides - South Korea Retail Sales YoY - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Retail Sales YoY - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Statistics Korea
Retail Sales YoY in South Korea is expected to be 3.50 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 5.00 in 12 months time. In the long-term, the South Korea Retail Sales YoY is projected to trend around 5.00 percent in 2021 and 6.00 percent in 2022, according to our econometric models.