The income of Spanish families falls by 1.1%, twice the OECD average
The real income of families in the Organization for Economic Cooperation and Development (OECD) fell 0.5% between the months of April and June, which implies a third consecutive quarter of fall that is directly related to the inflationary spiral that influences purchasing power. The decline in that indicator, which measures the disposable income of households once taxes and contributions have been deducted and social assistance has been added, it has to do with the down in most member countries for which data is available, the OECD has indicated.
In the second quarter Spain has had one of the largest decreases among the less than 20 countries for which updated statistics are recorded. With a drop of 1.1%. Even more pronounced has been that of France, of the 1.2% and the same as in the United Kingdom, 1.1%. In the United States the drop has been 0.4%, while in Italy there has been no variation. Among the majors, Germany has broken away from the general downward trend with a 0.4% increaseand this despite the fact that its gross domestic product per inhabitant has decreased by 0.5% in the second trimester.
In Spain, as in the OECD, there have been three consecutive quarters of reduction of real income until the middle of the year. Four have been registered in the United Kingdom and five in the United States. However, Spain is the OECD country -among those that offer figures- in which real disposable income has had a worse evolution since the start of the series in the first quarter of 2007, before the financial crisis hit.
From a level of 100 at that initial point, it has moved to 92.13 in the second quarter of this year. Only Italy has been in equivalent parameters, with 92.20 points in mid-2022. That contrasts, for example, with the 107.44 points of France or the 114.32 points of Germany, not to mention the 121 points of the United States. The real income of the families tries to give a more accurate idea than GDP per capita of the money available to buy goods and services or to save.
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