Private consumption per GDP falls to record low in 2017
- 6 years ago
South Korea's private consumption per GDP fell to a record low last year.
According to a report by the Bank of Korea on Tuesday, last year's private spending was 48-point-one-percent of GDP,…
a zero-point-six percentage point drop from a year earlier.
South Korea's private spending figures have fallen faster than any other country, and are at their lowest level since 1970 when the BOK began to gather relevant data.
The percentage of private consumption per GDP, which had reached 70-percent in the early 1970s, dropped to around 50-percent in the 2000s.
Economic experts say that recent falls have to do with Korea's sluggish job market and aging population.
According to a report by the Bank of Korea on Tuesday, last year's private spending was 48-point-one-percent of GDP,…
a zero-point-six percentage point drop from a year earlier.
South Korea's private spending figures have fallen faster than any other country, and are at their lowest level since 1970 when the BOK began to gather relevant data.
The percentage of private consumption per GDP, which had reached 70-percent in the early 1970s, dropped to around 50-percent in the 2000s.
Economic experts say that recent falls have to do with Korea's sluggish job market and aging population.