Real household disposable income growth has been trending up since 2014 when it recorded 1.1% y/y. In 2017 it reached 2.8%, but lost momentum in the second quarter of 2018 when it registered 1.5% y/y (-1% q/q annualised). Real household disposable income per capita grew by, on average, only 0.6% p.a. over the five years to 2017. Real household disposable income is expected to grow by 1.5% in 2018, and to average 3.5% p.a. during 2011-2023.
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