ID :
137701
Sun, 08/15/2010 - 10:23
Auther :

Ratio of 'money-losing' households hits 6-year high


SEOUL, Aug. 15 (Yonhap) -- The ratio of South Korean households spending more
money than their income surged to a six-year high in the second quarter, data
showed Sunday, apparently due to increased "non-consumption expenditures" such as
taxes.
The percentage stood at 28.1 percent in the April-June period, up 0.3 percentage
points from a year earlier and the highest second-quarter figure since 2004,
according to the data by Statistics Korea.
The rise was attributed to a surge in households' non-consumption expenditures
such as taxes, pensions and interest payments.
Household income increased 7.7 percent on-year in the second quarter, while
households' non-consumption expenditures surged 11.5 percent.
Local households' disposable income, or personal income minus tax payments, grew
6.8 percent on-year in the April-June period, according to the data.
The percentage of money-losing households in the top 20 percent income bracket
rose to 10.2 percent in the second quarter from 9.5 percent a year earlier, while
the figure for the bottom 20 percent fell from 58.3 percent to 57.4 percent, the
lowest level since record-keeping began in 2003, the data showed.
(END)

X