The average monthly income per household grew nearly four percent in the fourth quarter of last year compared with the same period in 2023.

According to a survey conducted by Statistics Korea and released Thursday, the average monthly income per household stood at five-point-215 million won, or around three-thousand-600 U.S. dollars, between October and December, marking a three-point-eight percent increase from the fourth quarter of 2023.

The survey found, however, that household spending did not rise as much as household income amid economic uncertainty. 

Household consumption spending rose just two-and-a-half percent in the fourth quarter to two-point-nine million won.

In contrast, household spending grew five-point-one percent in the fourth quarter of 2023 and five-point-nine percent in the fourth quarter of 2022.