Korea’s Debt-Strong Economy Has No Money to Buy Furniture Clothes

(1)Caption News ECO
(2)an increase or decrease in retail sales
(3)Data Statistics Office Year-on-year unit
(4)Car Retail Sales Index 121
(5)Clothing retail sales index -07
(6)It’s on the decline
(7)Expensive consumption of durable goods has recently dropped sharply
(8)The National Statistical Office’s car sales index, which increased for 13 consecutive months from a year ago, turned downward last September
(9)Home appliances and furniture also fell sharply by more than 10
(10)Caption newsroom
(11)Quarterly Retail Sales Growth Rate
(12)Data Statistics Office Year-on-year unit
(13)2022 2023
(14)in two quarters in 2014
(15)Maximum width reduction
(16)The biggest drop in two quarters in 14 years since the first quarter of 2009
(17)Sales of semi-durable goods such as clothes and shoes have already been available since April
(18)Accordingly, the retail sales index, a representative indicator of goods consumption, has passed
(19)Q3 is down 27 from the same period last year
(20)subtitle news
(21)National Development Institute
(22)Jeong Gyu-cheol, head of the KDI Economic Outlook Office
(23)It’s because we lowered the growth rate
(24)KDI Economic Outlook 2023 Second Half
(25)Korea Development Institute Sees Three-Year Forecast On Private Consumption Growth Next Year
(26)It fell to 18, 06 points lower than before, and its forecast for next year’s economic growth rate fell to 22 by 01 points
(27)The decline in purchasing power due to high prices and debt continues next year
(28)Caption News ECONOMYS
(29)It is expected to limit employment growth and economic recovery