Household Income and Consumption Pick up Slightly in 2Q
Household Income and Consumption Pick up Slightly in 2Q
  • Korea IT Times (info@koreaittimes.com)
  • 승인 2013.08.26 18:31
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SEOUL, KOREA- The second-quarter household income and expenditure have picked up slightly from the previous quarter, but consumer spending remained weak as the figures included seasonal spikes in consumption during hot, humid summer months. According to a report "2Q 2013 Household Trend" published by the Korea Statistical Office on August 23, household monthly average income was 4,041,000 won (US$3,628) in the April-June period, up 2.5 percent from a year ago. In the first quarter, household income had grown 1.7 percent year on year.
 
Earned income led the increase with a year-on-year rise of 3.4 percent, while property income fell 4.1 percent due to an abrupt decline in interest income. Household consumption increased 0.7 percent from the same month last year to 2,403,000 won.
 
The ratio of consumer spending against disposable income came in at 73.1 percent in the second quarter, down from 75.0 percent a quarter ago, according to the statistical agency. Household disposable income, total income minus non-consumption spending, rose 2.1 percent from a year ago to 3,287,000 won. The growth rate is still far lower than an average of around 5.8 percent growth seen in the 2010-12 period.

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