Photo of Myeongdong Street in Jung-gu, Seoul on the morning of April 28 last year News 1
Last year, it was found that the household surplus reached an all-time high. According to an analysis, households reduced their spending and made a’recession-type surplus’ in a situation where economic difficulties increased due to the novel coronavirus infection (Corona 19).
According to the results of the household trend survey conducted by the National Statistical Office on the 22nd, last year, the surplus rate of households nationwide (two or more) was 32.9% in the first quarter, 32.3% in the second quarter, 30.9% in the third quarter, and 30.4% in the fourth quarter. All exceeded 30%. In the household trend survey prepared since 2003, only five times have recorded a quarterly surplus of 30% or more. In the fourth quarter of 2016, 30.3% occurred only once, and all four times last year.
The amount of income excluding non-consumption expenditures such as taxes, pensions, social insurance premiums, and interest expenses is called disposable income. The surplus refers to the amount of disposable income excluding daily food, clothing, and shelter expenses. The surplus rate refers to the proportion of this surplus to disposable income.
The reason the household surplus recorded the highest last year was the result of a recession-type surplus, which was recorded not because of more income, but because of not using it or not.
In the case of the first quarter of last year, the average monthly income per household increased 3.7% to 5358,000 won compared to the previous quarter, but household expenditure decreased by 4.9% to 3945,000 won. Average household income increased by 4.8%, 1.6%, and 1.8% in the second and fourth quarters, respectively. Household spending increased 1.4% in the second quarter alone, and -2.2% and -0.1% in the third and fourth quarters, respectively.
Reporter Oh Won-seok [email protected]
