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South Korea Q2 household disposable income falls for a 7th quarter

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South Korea's average disposable household income in the April-June period declined for a seventh straight quarter in annual terms, official data showed on Thursday, a blow to the government's efforts to boost consumer spending.

[SEOUL] South Korea's average disposable household income in the April-June period declined for a seventh straight quarter in annual terms, official data showed on Thursday, a blow to the government's efforts to boost consumer spending.

Real disposable household income for the second quarter fell 0.1 per cent on-year, following a 1 per cent decline in January-March, according to Statistics Korea.

Real household income grew 2.7 per cent in the second quarter, faster than a 2.4 per cent gain in the first.

An index measuring income inequality - a ratio of the income of the highest 20 per cent and the lowest 20 per cent - was 5.23 in the second quarter, improving from 5.95 three months earlier, the worst on record.

"Unemployment increased in the lowest income bracket due to ageing population and sluggish businesses in retail shops and restaurants," Statistics Korea said in a statement.

REUTERS

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