SUNDAY, 20 SEP 2020

 

CONNECT

Facebook Linked In Twitter
Compliance_29/01-24/09_728x90px
GloriaJeans_266x90px
IMH LTD

Merkel And Conte Express Full Support To Cyprus

Themis Papadopoulos Re-elected At The ICS Board Of Directors

IMH LTD

ECONOMY

Eurostat: Sharpest Drop Of Household Real consumption Per Capita In Both Euro Area And EU

Eurostat: Sharpest Drop Of Household Real consumption Per Capita In Both Euro Area And EU

In the first quarter of 2020, when Member States began to widely introduce COVID-19 containment measures in March 2020, household real consumption per capita dropped by 3.0% in the euro area, after a decrease of 0.4% in the previous quarter, according to data released today by Eurostat, the statistical service of the EU.

 

This decline is the highest since the beginning of the time series in 1999. Household real income per capita increased in the first quarter of 2020 by 1.1%, after a decrease of 1.1% in the fourth quarter of 2019.

 

In the EU household real consumption per capita decreased by 2.9% in the first quarter of 2020, after a decrease of 0.2% in the previous quarter. This decline is the highest since the beginning of the time series in 1999. Household real income per capita increased by 1.2% in the first quarter of 2020, after a decrease of 1.0% in the fourth quarter of 2019.

 

During the first quarter of 2020, household gross disposable income increased by 0.9% in the euro area and by 1.2% in the EU. The reduction in current taxes and net social contributions had a strong positive contribution to gross disposable income, while the contribution of social benefits was higher than usual.

 

The decrease observed in received wages, operating gross operating surplus and mixed income of households contributed negatively in the growth of gross disposable income in both zones.

 

In the first quarter of 2020, the saving rate increased in both the euro area and the EU by 4.3 percentage points, compared to the fourth quarter of 2019. The household saving rate increased in all Member States, for which data are available for the first quarter of 2020.

 

The highest increases were observed in Belgium, Denmark and the Netherlands, and the lowest in Poland, Sweden and Czechia. For all but two Member States, the increase of the saving rate was explained by the strong decrease of individual consumption expenditure.

 

The drop in the individual consumption expenditure of households was the most pronounced in Italy, Spain and Belgium, followed by France. At the same time, the gross disposable income varied, increasing in Poland, Denmark, Czechia, Ireland, the Netherlands and Finland and decreasing in Spain, Italy, Portugal, Germany and Austria.

 

In the first quarter of 2020 the investment rate decreased by 0.2 percentage points for the euro area and 0.3 percentage points in the EU.

 

Among the Member States for which data are available for the first quarter of 2020, the decrease in investment rate of households was the highest in Spain, France and Belgium. Seven Member States recorded an increase in the household investment rate, the highest being observed in Germany, the Netherlands and Denmark.

 

Data for households are not available for Member States whose gross domestic product at current prices is less than 1% of the corresponding EU total GDP.

MORE ON ECONOMY

Pilides: The Eastern Mediterranean Gas Forum Is A Very Important Initiative

The Eastern Mediterranean Gas Forum (EMGF) is a very important initiative by Egypt, said ...

Job Vacancy Rate In Cyprus Down In Second Quarter

Job vacancies in Cyprus amounted to 1.2% or 4,172 in the second quarter of 2020, marking ...

NPLs In Cyprus Rise Slightly In April

Non-performing loans (NPLs) rose slightly in April corresponding to 27.7% of total loans, ...

FROM AROUND GOLDNEWS

   

EU Commission Raises Climate Ambition And Proposes 55% Cut In Emissions By 2030

The European Commission presented its plan to reduce EU greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels. This level of ambition ...
   

Sunnyseeker Hotels Takes Over Elias Beach Hotel In Limassol

Sunnyseeker Hotels announced the signing of a management agreement with EOE Tourist Enterprise Ltd, owner of the Elias Beach Hotel in Limassol. ...
   

Nicos Anastasiades: Mitigating The Pandemic’s Social And Economic Impact Remains Our Main Concern

Mitigating the social and economic impact of the coronavirus pandemic and the return of all sectors of the economy to maximum operation remain the ...
   

Increased Interest In The Plots Of Aristo Developers In Nicosia

Aristo Developers recently announced the segmentation and marketing of ninety large plots for residential development in the Municipality of Engomi in Nicosia. ...
   

Emmanuel Macron Faces Return Of Strikes

Strikers are taking to the streets of France on Thursday for the first time since the country returned to work from the summer holidays, signalling a difficult ...
   

Toyota Reveals Plan To Turn Trucks Into Emissions-Free 'Power Plants'

Portable emissions-free “power plants” could soon hit the road under plans by Toyota to fit some of the company’s light-duty trucks with ...
   

Merkel And Conte Express Full Support To Cyprus

German Chancellor Angela Merkel and Italian Prime Minister Giuseppe Conte expressed, during separate telephone conversations they had on Thursday with Cyprus ...
   

WHO Warns Europe Over Covid Surge

Surging coronavirus figures across Europe should serve as "a wake-up call", the World Health Organization's regional director has said. Hans ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Gold_September
Real_Estate_22/07-28/09

IMH LTD