Households' Income and Consumption Expenditure in the First Half of 2024

2024-07-16 10:00 Print| Large| Medium| Small

I. Households' Income

In the first half of 2024, the nationwide per capita disposable income stood at 20,733 yuan, a nominal increase of 5.4 percent over the previous year, and a real increase of 5.3 percent after deducting price factors. In terms of urban and rural areas, the per capita disposable income of urban residents was 27,561 yuan, an increase of 4.6 percent (unless otherwise specified, all growth rates mentioned are nominal), and a real increase of 4.5 percent after deducting price factors; the per capita disposable income of rural residents was 11,272 yuan, an increase of 6.8 percent, and a real increase of 6.6 percent after deducting price factors.

According to the source of income, in the first half of 2024, the per capita income from wages and salaries of residents nationwide was 11,950 yuan, an increase of 5.8 percent, accounting for 57.6 percent of the per capita disposable income; the per capita net business income was 3,235 yuan, an increase of 6.4 percent, accounting for 15.6 percent of the per capita disposable income; the per capita net income from properties was 1,780 yuan, an increase of 2.1 percent, accounting for 8.6 percent of per capita disposable income; the per capita net income from transfer was 3,768 yuan, an increase of 5.0 percent, accounting for 18.2 percent of the per capita disposable income.

In the first half of 2024, the median of the nationwide per capita disposable income was 17,358 yuan, an increase of 5.9 percent. Among them, the median of the per capita disposable income of urban residents was 24,403 yuan, an increase of 4.7 percent; the median of the per capita disposable income of rural residents was 9,539 yuan, an increase of 6.9 percent.

Per Capita Disposable Income and Its Growth of Urban and Rural Residents in the First Half of 2024

II. Consumption Expenditure of Households

In the first half of 2024, the nationwide per capita consumption expenditure was 13,601 yuan, a nominal increase of 6.8 percent over the previous year, and a real increase of 6.7 percent after deducting price factors. In terms of urban and rural areas, the per capita consumption expenditure of urban residents was 16,780 yuan, an increase of 6.1 percent, and a real increase of 6.0 percent after deducting price factors; the per capita consumption expenditure of rural residents was 9,197 yuan, an increase of 7.6 percent, and a real increase of 7.4 percent after deducting price factors.

In the first half of 2024, the nationwide per capita consumption expenditure on food, tobacco and liquor was 4,214 yuan, an increase of 7.8 percent, accounting for 31.0 percent of the per capita consumption expenditure; the per capita consumption expenditure on clothing was 826 yuan, an increase of 8.1 percent, accounting for 6.1 percent of the per capita consumption expenditure; the per capita consumption expenditure on residence was 3,004 yuan, an increase of 1.9 percent, accounting for 22.1 percent of the per capita consumption expenditure; the per capita consumption expenditure on household facilities, articles and services was 738 yuan, an increase of 2.2 percent, accounting for 5.4 percent of the per capita consumption expenditure; the per capita consumption expenditure on transportation and telecommunication was 1,819 yuan, an increase of 11.6 percent, accounting for 13.4 percent of per capita consumption expenditure; the per capita consumption expenditure on education, culture and recreation was 1,340 yuan, an increase of 11.2 percent, accounting for 9.9 percent of the per capita consumption expenditure; the per capita consumption expenditure on health care and medical services was 1,271 yuan, an increase of 4.2 percent, accounting for 9.3 percent of the per capita consumption expenditure; the per capita consumption expenditure on miscellaneous goods and services was 389 yuan, an increase of 13.8 percent, accounting for 2.9 percent of the per capita consumption expenditure.

Per Capita Consumption Expenditure and Composition in the First Half of 2024

Nationwide Income and Consumption Expenditure in the First Half of 2024

Item	Absolute Value	Growth Rate Y/Y (%) (Real Growth in Brackets)
Nationwide per Capita Disposable Income	20733	5.4 (5.3)
Grouped by Permanent Residence
Urban residents	27561	4.6 (4.5)
Rural residents	11272	6.8 (6.6)
Grouped by Income Source
Income from wages and salaries	11950	5.8
Net business income	3235	6.4
Net income from properties	1780	2.1
Net income from transfer	3768	5.0
Median of Nationwide per Capita Disposable Income	17358	5.9
Grouped by Permanent Residence
Urban residents	24403	4.7
Rural residents	9539	6.9
Nationwide per Capita Consumption Expenditure	13601	6.8 (6.7)
Grouped by Permanent Residence
Urban residents	16780	6.1 (6.0)
Rural residents	9197	7.6 (7.4)
Grouped by Consumption Category
Food, tobacco and liquor	4214	7.8
Clothing	826	8.1
Residence	3004	1.9
Household facilities, articles and services	738	2.2
Transportation and telecommunication	1819	11.6
Education, culture and recreation	1340	11.2
Health care and medical services	1271	4.2
Miscellaneous goods and services	389	13.8
Notes: 1. Nationwide per capita disposable income = per capita disposable income of urban residents * proportion of urban population + per capita disposable income of rural residents * proportion of rural population. 2. Nominal growth rate of per capita disposable income of residents = (per capita disposable income of residents in the current year / per capita disposable income of residents in the previous year - 1) * 100%; actual growth rate of per capita disposable income of residents = (per capita disposable income of residents in the current year / per capita disposable income of residents in the previous year / per capita consumer price index of residents in the same period100 - 1) 100%. 3. The per capita income and consumption expenditure data of the whole country is based on the basic data of sampling survey of more than 160,000 households, and weighted and summarized according to the number of households represented by each sample household. Influenced by urbanization, population migration and other factors, the composition of population in different periods has changed, which sometimes leads to the phenomenon that the growth rate of some income and expenditure items of the whole country exceeds the growth range of corresponding income and expenditure items of urban and rural residents. It is mainly in the process of urbanization that some people with higher income in rural areas enter urban areas, but they belong to lower income groups in urban areas, and their migration has a pulldown effect on part of the income and expenditure of urban and rural residents; however, no matter in urban or rural areas, the growth effect will be reflected in the income and expenditure growth of all residents. 4. In the growth column compared with the previous year, the data in brackets is the actual growth rate, while others are the nominal growth rate. 5. The average and median income are statistics reflecting the trend of residents' income concentration. The average can not only directly reflect the overall situation, but also reflect the overall structure, which is convenient for the comparison of income levels of different groups, but also vulnerable to the influence of extreme data; the median reflects the situation of the object in the middle position, which is relatively stable and can avoid the influence of extreme data, but cannot reflect the structure.

Income and Consumption Expenditure of Urban and Rural Residents in the First Half of 2024

Item	Absolute Value (yuan)	Nominal Growth Y/Y (%)
Per Capita Disposable Income of Urban Residents	27561	4.6
Grouped by Income Source
Income from wages and salaries	16720	4.9
Net business income	3317	6.4
Net income from properties	2824	1.2
Net income from transfer	4700	4.1
Per Capita Consumption Expenditure of Urban Residents	16780	6.1
Grouped by Consumption Category
Food, tobacco and liquor	5086	7.3
Clothing	1033	7.3
Residence	3884	1.4
Household facilities, articles and services	900	0.0
Transportation and telecommunication	2216	11.4
Education, culture and recreation	1669	11.0
Health care and medical services	1469	3.4
Miscellaneous goods and services	523	12.9
Per Capita Disposable Income of Rural Residents	11272	6.8
Grouped by Income Source
Income from wages and salaries	5339	7.3
Net business income	3123	6.3
Net income from properties	334	6.2
Net income from transfer	2476	6.6
Per Capita Consumption Expenditure of Rural Residents	9197	7.6
Grouped by Consumption Category
Food, tobacco and liquor	3005	8.4
Clothing	539	9.1
Residence	1786	2.3
Household facilities, articles and services	514	6.9
Transportation and telecommunication	1270	11.3
Education, culture and recreation	884	11.0
Health care and medical services	996	5.4
Miscellaneous goods and services	203	15.4

Annotations:

1. Explanatory Notes

Disposable income of residents refers to the sum of final consumption expenditure and savings that residents can use, that is, the income that residents can use for free disposal, including both cash income and physical income. According to the source of income, disposable income includes income from wages and salaries, net business income, net income from properties and net income from transfer.

Consumption expenditure of residents refers to all the expenditures that residents use to meet their daily needs, including both cash and physical consumption. Consumption expenditure includes eight categories: food, tobacco and liquor, clothing, residence, household facilities, articles and services, transportation and telecommunication, education, culture and recreation, health care and medical services, and miscellaneous goods and services.

The median of the nationwide per capita disposable income refers to the per capita disposable income of residents which lies in the middle of all surveyed households ranked from low to high on the basis of per capita disposable income level.

The quarterly income and consumption expenditure data do not cover the income and consumption of the self-produced and self-used parts of residents, which are included in the annual income and consumption expenditure data.

2. Survey Methods

The national and sub urban and rural residents' income and consumption expenditure data comes from the household income and consumption expenditure and living conditions surveys organized and implemented by the National Bureau of Statistics of China, which is released quarterly.

Using a stratified, multi-stage, probability sampling method proportional to the size of population, the National Bureau of Statistics of China randomly selected 160,000 households in 2,000 counties (cities, administrative regions) of 31 provinces (autonomous regions, municipalities) as surveyed households.

According to the unified system and method, the survey organizations directly under the National Bureau of statistics of China will organize the surveyed households to record and collect the data of residents' income, expenditure, family operation, production and investment; meanwhile, according to the unified questionnaire, collect other information such as the employment of household members and labor force, the ownership of housing and durable consumer goods, and the coverage of residents' basic social and public services. After the completion of data collection, the municipal and county survey organizations use unified methods and data processing procedures to code, review and input the original investigation data, and then directly transmit the basic household data to the National Bureau of Statistics of China for unified summary and calculation.

3. Additional Description

Due to rounding-off, there may be differences between the total and the sum of subtotals.