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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