ECONOMY

Decline in disposable incomes slowed in 2014

decline-in-disposable-incomes-slowed-in-2014

Households’ disposable incomes recorded a fresh decline in 2014, albeit at a slower rate than in 2013, according to data released on Wednesday by the Hellenic Statistical Authority (ELSTAT).

Households’ disposable income totaled 118 billion euros last year against 122.7 billion in 2013 – i.e. a 3.9 percent reduction. In 2013 the reduction had come to 10.2 percent compared to 2012, or 13.9 billion euros.

The slide in disposable incomes resulted in a drop in consumption too: It fell 2.2 percent in 2014, or by 2.9 billion euros from 2013, to reach 125 billion euros, after dropping 3.6 percent in 2013 from 2012.