11 Structural Changes in Consuming Pattern

11 Structural Changes in Consuming Pattern

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For two consecutive years, 2014 and 2015, the rate of increase of private consumption was still below the rate of economic growth. The contribution of private consumption on economic growth is also declining. In 2015, offline retail business had decreased by 0.2%, and the average consumpution trend is continuously on the decline. Due to the deterioration of employment conditions and an increase in household debt and housing cost, consumers are limiting their consumption focusing on essential consumer goods. This consumer trend is likely to continue in 2016.

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