Despite household income expanding at the fastest pace on the back of government relief payouts and overall economic recovery, the average propensity to consume(APC) in the third quarter fell to a record low.

According to Statistics Korea on Sunday, the country's average household monthly income reached four-point-73 million won in the July through September period, up eight percent from the previous year. 

This was the fastest on-year growth since 2006, when the statistics agency began compiling related data.

The APC, which indicates the amount of disposable income a household spends on products or services consumption, stood at a record low of 67-point-four percent, down one-point-five percentage points from a year earlier.

After falling below 70 percent in the first quarter last year, the ratio remained in the 60-percent range, with the exception of 71-point-seven percent in the second quarter this year.

Reflecting households' limited consumption amid continued uncertainties, APC among those in the bottom 20-percent bracket fell by the biggest margin of 13-point-four percentage points.