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.