South Korea Retail Sales Decline in July

Retail sales in South Korea dropped by 1.8% month-over-month in August 2026, following an upwardly revised 2.6% decline in the previous month. This marked the second consecutive month of decrease, largely driven by lower sales of durable goods, such as passenger cars and food and beverages. On a year-on-year basis, retail activity fell by 0.3% in August, after an upwardly revised 1% decline in the preceding period. As a key gauge of private consumption, the latest figures suggest household spending remained under pressure in August, pointing to continued weakness in domestic demand and a cautious consumer environment in the country.

Retail sales in South Korea declined by 2.4% month-over-month in July 2026, reversing a 2.7% increase in the previous month. The decrease was largely driven by lower sales of durable goods, particularly passenger cars and home appliances. On a year-on-year basis, retail activity dropped by 0.8% in July, slipping from a downwardly revised 3.9% rise in the preceding period. As a key gauge of private consumption, the latest figures suggest household spending lost momentum at the start of the third quarter, pointing to weaker domestic demand and could weigh on economic growth.

Retail sales in South Korea rose by 2.7% month-over-month in June 2026, accelerating from a 0.1% rise in the previous month and marking the strongest growth since January. The increase was largely driven by higher sales of durable goods, particularly automobiles. On a year-on-year basis, retail sales increased by 4.2% in June, the fastest rise in three months and up from a downwardly revised 1.5% gain in the preceding period. As a key gauge of private consumption, the latest figures suggest household spending gained solid momentum at the end of the second quarter, providing a positive signal for domestic demand.