Household consumption activities are declining due to stagnant household income.

According to data from Statistics South Korea on Tuesday (11/22/2016), expenditure on food and non-alcoholic beverages for households with more than two people from July to September this year decreased by 3.2% compared to the same period last year.

Such expenditures continued to decline for four consecutive quarters since the fourth quarter of last year, and a decrease in spending is the longest.

Analyzed that the decline of consumption activities have recently become more serious than it was in 2008 when the financial crisis engulfed the entire world. Mentioned, if consumer sentiment does not quickly recover, then it can affect domestic demand.