South Korea's percentage of income used for consumption hits 13-year low in 2017
- 6 years ago
More Koreans are closing their wallets it seems... as South Korea's propensity to consume,... which measures the percentage of income that's used for consumption,… hit a 13-year-low last year.
According to the Bank of Korea on Thursday...., the ratio of private and government consumption expenditure to national disposable income, stood at 78-point-nine percent in 2017.
Disposable income marked more than one-point-two trillion U.S. dollars…and total consumption was around 9-hundred-83-point-6 billion dollars.
The drop was mainly attributed to low household consumption,... which accounts for more than 90 percent of private spending.
Analysts say weak domestic demand and employment caused the drop.
Last year's number is lower than the OECD average in 2015,… which stood at 92-and-a-half percent.
According to the Bank of Korea on Thursday...., the ratio of private and government consumption expenditure to national disposable income, stood at 78-point-nine percent in 2017.
Disposable income marked more than one-point-two trillion U.S. dollars…and total consumption was around 9-hundred-83-point-6 billion dollars.
The drop was mainly attributed to low household consumption,... which accounts for more than 90 percent of private spending.
Analysts say weak domestic demand and employment caused the drop.
Last year's number is lower than the OECD average in 2015,… which stood at 92-and-a-half percent.