Disposable income plunged 9.3 pct in Q2, dragging consumption down with it

EconomyMacroeconomy Tags: ELSTAT, Income

Greek household disposable income fell by 3.1 billion euros or 9.3 percent year on year (yoy) in the second quarter of 2013 and reached 30.1 billion, according to the Hellenic Statistical Authority (ELSTAT). The latest data indicates an accelerating decline compared to the first quarter drop of -7.4 percent.

The ongoing downward trend mainly reflects a decrease in the compensation of employees by 13.9 percent and social benefits by 12.4 percent over the same period.

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