S.Korea end-Q3 household credit growth falls to 3-yr low
Household credit growth at the end of September was 5.6 percent over a year earlier at 937.5 trillion won ($865 billion), the slowest growth since a 5.5 percent rise at the end of the second quarter of 2009, the Bank of Korea data showed.It follows a revised 5.8 percent gain by the end of June in household credit including borrowing from financial institutions and purchases on credit.
It is not adjusted for seasonal patterns or inflation. South Korea's household debt burden has been on an easing track since posting a 9.1 percent annual rise at the end of the second quarter 2011, hit by the effects from the protracted euro zone debt crisis, weak domestic property market and slowing economy.
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