South Korea’s Department Store Sales Increased 8.5% in July

Sales growth at major South Korean department stores were little changed last month, a sign that consumer demand may be faltering.

Outlays at the three biggest chains increased 8.5 percent in July from a year earlier, after rising 8.2 percent in June, the Ministry of Knowledge Economy said in a statement today. Discount-store sales rose 4.9 percent from a year earlier after a 2.7 percent gain in June, today’s report said.

To contact the reporter on this story: William Sim in Seoul at wsim2@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net

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