(MENAFN) Statistics Korea stated that the country's private consumption in the third quarter rose 1 percent from last year's same period, reported Xinhua News.
The agency said that the rate, the lowest in over 3 years, was less than the 3.6-percent gain posted in the second quarter.
Monthly average consumption by households reached USD2,260 in the three-month period.
The slowdown in private spending resulted from the economic downturn attributable to external uncertainties, including the euro zone debt crisis and the US fiscal cliff issue.
In the quarter, South Korea's monthly household income grew 6.3 percent from 2011's same period to an average of USD3,795.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.