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South Korea's Retail Sales Plunge 2.1% Amid Turmoil

1/14/2025

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Summary

Story summary

South Korea's retail sales plummeted by 2.1% in the first 11 months of 2024, the sharpest drop in two decades. With consumers grappling with political and economic turmoil, confidence waned, causing a decline in sales across all categories. This downturn has led to a bleak economic growth forecast of just 1.8% for the year.

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Story summary

South Korea's retail sales plummeted by 2.1% in the first 11 months of 2024, the sharpest drop in two decades. With consumers grappling with political and economic turmoil, confidence waned, causing a decline in sales across all categories. This downturn has led to a bleak economic growth forecast of just 1.8% for the year.