S. Korea's consumer sales top record high in Q2: report

SEOUL, Aug. 9 (Yonhap) -- South Korea's consumer sales rebounded into positive
territory to reach a record high of 62.85 trillion won (US$51.14 billion), fueled
by demand for new cars and electronic goods, a government report said Sunday.
The National Statistical Office (NSO) said total sales were up 2.3 percent or 1.4
trillion won from the year before.
The gains also mark an increase of 4.6 trillion won compared to the first quarter
of this year and a turnaround from three straight quarters of negative sales
growth.
After reaching a peak of 61.45 trillion won in March-June of 2008, sales fell to
61.03 trillion won in the third quarter of last year and again to 58.25 trillion
won in the first three months of 2009.
The NSO said gains were mainly fueled by the 17.2 percent on-year surge in sales
of new automobiles that topped 7.09 trillion won, while sales of electronics
increased 5.1 percent to 3.20 trillion won.
Sales of computers, communications equipment and furniture all declined, but
overall sales of durable goods gained 6.8 percent on-year to reach 13.42 trillion
won. Quasi-durable goods like clothing, bags and shoes grew 4.8 percent to 11.45
trillion won compared to the same three-month period in 2008, while non-durables,
covering fuel, food and cosmetics, contracted 1.2 percent to 30.16 trillion won.
yonngong@yna.co.kr
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