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S KOREA DURABLE GOODS SALES PLUNGE IN NOV AMID ECONOMIC DOWNTURN.
SEOUL, Jan 1 Asia Pulse - South Korean households and companies are scaling down spending on durable goods as concerns are growing that the economy is slowing at a faster-than-expected pace, the government said Thursday.
According to the National Statistical Office (NSO), durable product sales plunged 16.3 pe recent in November from a year earlier. Durable goods refer to high-priced products such as cars, computers and other equipment that can be used for more than a year.
The sharp decline stemmed mostly from a drop in vehicle sales. Car sales in November dived 39.4 per cent from a year earlier, the NSO said. Consumers tend ...
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Source: HighBeam Research, S KOREA DURABLE GOODS SALES PLUNGE IN NOV AMID ECONOMIC DOWNTURN.