Net wealth of European hou­seholds lost in the crisis re­co­vered

Spain Reports Greatest Loss Of Income (-7.85%) Among OECD Countries Since Pandemic

Shadows of poverty.
Shadows of poverty.

Of the 31 OECD coun­tries analy­sed, nine re­corded an in­crease in real per ca­pita hou­sehold in­come, while twelve re­corded a fall, alt­hough among the large eu­ro­zone eco­no­mies only Spain main­tained its de­te­rio­ra­tion, with a loss of 7.85%, the worst fi­gure of all the OECD coun­tries.

Although this household income exceeded pre-pandemic levels in the third quarter of 2022 in almost all OECD countries, Spain led the group of those that remained in negative values, along with Portugal (-4.1%), Finland (-1.8%), the Czech Republic (-1.7%) and Denmark (-1.3%).

Spanish households have therefore suffered the biggest fall in real incomes of all the Organisation for Economic Co-operation and Development (OECD) countries since before the pandemic – from the fourth quarter of 2019 to the third quarter of 2022. In the OECD as a whole, this disposable income – compared with the pre-pandemic situation at the end of 2019 – shows an improvement of 1.87%.

In contrast to Spanish households, the growth in household income recorded between the last quarter of 2019 and the third quarter of 2022 in some countries puts the Spanish economic recovery into the spotlight. Among the large economies, Germany (+0.9%), France (+0.8%), Italy (+0.6%) and the United States (+0.5%) achieved positive balances in their per capita incomes. The countries where real incomes rose the most were Poland (7.16%), Slovenia (6.53%) and Hungary (4.26%). Also in Australia (4.55%) and Canada (4.09%).

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