S Korea’s retail sales rise 5.9pc in July

SEOUL-South Korea’s retail sales rose in single digits in July on robust food demand in summer holiday season, government data showed. The combined revenue for offline and online retailers gained 5.9 percent in July from a year earlier, according to the Ministry of Trade, Industry and Energy. Sales by offline retailers grew 3.9 percent last month as demand increased for food in summer holiday season, offsetting a weaker demand for home appliances and sports items amid still high inflation. Sales by department stores, discount outlets and convenience stores all marked single-digit growths in July. Revenue for online retailers expanded 8.1 percent last month due to the double-digit increase in sales for food and household items.

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