SEOUL, Nov 17 (Reuters) - Sales at major South Korean department stores in October stood unchanged from a year ago, with increased demand for luxury and sports goods offset by sluggish sales of clothes, the Finance Ministry said on Monday.
In September, sales at major department stores fell for the first time since December, declining 0.3 percent from a year before amid growing concerns over the local impact of global financial turmoil.
With exports running out of steam quickly due to a global economic downturn, the South Korean government has employed pump-priming measures, including rate cuts and tax reforms, in order to encourage more private spending.
(Reporting by Seo Eun-kyung; Editing by Clarence Fernandez)
((eunkyung.seo@thomsonreuters.com; +82 2 3704 5648; Reuters Messaging;eunkyung.seo.reuters.com@reuters.net)
Keywords: KOREA ECONOMY/DEPARTMENT
COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
In September, sales at major department stores fell for the first time since December, declining 0.3 percent from a year before amid growing concerns over the local impact of global financial turmoil.
With exports running out of steam quickly due to a global economic downturn, the South Korean government has employed pump-priming measures, including rate cuts and tax reforms, in order to encourage more private spending.
(Reporting by Seo Eun-kyung; Editing by Clarence Fernandez)
((eunkyung.seo@thomsonreuters.com; +82 2 3704 5648; Reuters Messaging;eunkyung.seo.reuters.com@reuters.net)
Keywords: KOREA ECONOMY/DEPARTMENT
COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.