S. Korea's household consumer spending falls by most since 2003 amid COVID-19
Updated: 2020-05-21 14:12:10 KST
The pandemic has hit South Korea's consumer spending and at the same time widened the income gap.
Average consumer spending by households fell in the first quarter by the most since nationwide records were first compiled in 2003.
According to Statistics Korea, monthly average spending fell to around 12-hundred dollars, which is a drop of 10 percent compared to the first quarter last year.
People spent the least in the clothing category, followed by education and entertainment.
Meanwhile, the income gap continued to widen in the first quarter.
Those in the lowest income bracket saw their incomes say about the same on average, while those in the middle bracket saw an on-year increase of 6.3 percent.