Gulf persists in EU purchasing power

mercedesThe measurement of ‘actual individual consumption’ as charted by Eurostat shows the material welfare of households.

The widest disparity was found to be from Bulgaria at the lowest end where households had access to a mere 51% of material goods in the EU to cushy Luxembourg with consumption soaring 41% above the EU average.

Actual individual consumption consists of goods and services actually consumed by individuals without taking into account whether the person paid for these or if the government or charity did.

Large inequalities still exist in the single currency zone. Access to and enjoyment of goods and services, including health and education, was highest in countries western Europe and Scandinavia.

Average consumption was possible in just two countries, Italy and Ireland.

Peripheral countries Portugal, Spain, Greece, Cyprus and Malta accessed less than its richer partners while consumption 30% lower occurred, unsurprisingly, in former communist bloc states such as Estonia, Hungary, Croatia, Romania and Bulgaria.

In all, ten countries recorded above average consumption with Luxembourg in the clear lead. After that, Germany and Austria had consumption 20% above average, followed by Denmark, the UK, Belgium, Finland, the Netherlands, France and Sweden.

Twelve countries, including Portugal, had consumption per capita below average.

In Portugal, individual consumption was 17% below the EU average. This level has pertained for the last three years.

Greek consumption was at the same low level as Portugal while neighbouring Spain’s consumption was higher but still 12% below average. That rate, too, has been stable from 2012 on.