FX.co ★ South Korea's Retail Sales Plummet by 3.1% in February 2024

South Korea experienced a significant decline in retail sales in February 2024, with the indicator dropping by 3.1% compared to the previous month. This downturn comes after a 1% increase in January 2024. The data was updated on 28 March 2024, revealing the stark contrast in consumer spending within a month-over-month comparison period. The unexpected decrease in retail sales points to potential economic challenges faced by South Korea, impacting various sectors of the economy. As analysts monitor the situation closely, strategies to stimulate consumer demand and boost retail activity may be considered to revive economic growth in the country.