After having slowed to 1.4% y/y in 2014 from 4.7% y/y recorded in 2011, real household disposable income growth accelerated to 2.2% y/y in 2015. However real HDI grew by only 1.3% y/y in the first quarter of 2016. Real household disposable income per capita grew much slower, by only 0.6% in 2015, while a drop of 1.5% is expected in 2016.
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