By Bae Keun-min
Staff Reporter
Consumption measured by wholesale and retail sales rose in December for the first time in 11 months.
The National Statistical Office (NSO) reported on Monday wholesale and retail sales increased 0.6 percent in December from a year ago.
The overall service industry grew 2.7 percent in December over the same month in 2002, maintaining a rising curve for seven consecutive months.
Wholesale sales gained 2.4 percent in December over a year ago and retail sales increased 1.8 percent.
However, automobile sales fell 17.2 percent in December from a year ago, the NSO said.
Wholesale and retail sales have shown signs of improvement for the past two consecutive quarters from a negative 4.4 percent growth in the second quarter to –3.4 percent in the third and –1.1 percent in the fourth.
Sales of transportation, warehousing and telecommunication businesses rose 6.1 percent in December over a year ago. The transportation sector made noteworthy increases at 10.2 percent, as maritime shipping, road freight transportation and aerial transport grew by 20.6 percent, 27.3 percent and 14.9 percent, respectively.
The real estate, leasing and business services sector rose by 4 percent, up from a 0.4 percent gain in November. A 5.3 percent expansion was recorded in business services, including accounting, legal advices, and engineering and construction services.
Credit card usage has dropped 38 percent in December over a year ago, continuing the downturn streak since January last year, due to tight control on credit delinquents.
The educational service sector decreased 1.2 percent due to drops in incomes of private tutoring academies by 3.7 percent. Tuition shrank for the fifth straight month up to December.
Lodging and restaurant business fell 2.8 percent, extending the downturn trend for four straight months to December.
The medical service sector contracted by 3.4 percent, while other private services sectors fell by 2.2 percent due to slumps in golf course and entertainment services.
kenbae@koreatimes.co.kr
