Connect with us

Economy

Household spending steady in 2023

SHARE:

Published

2 years ago

on

We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. You can unsubscribe at any time.

In 2023, household final consumption expenditure, corrected for inflation, in the EU rose slightly by 0.5%. For comparison, it was 5.7% higher in 2022 than in 2021 when restrictions due to COVID-19 were still in place.

Last year, household consumption expenditure increased the most for restaurants and accommodation services (+4.6%) followed by transport (+4.3%) and recreation, sport and culture (+3.0%). Since 2021, household consumption expenditure for restaurants and accommodation services and for recreation, sport and culture has grown significantly, up 41.3% and 23.5%, respectively.

At the other end of the scale, furnishings, household equipment and routine household maintenance saw the biggest decline in 2023 (-4.9%), ahead of food and non-alcoholic beverages (-3.7%) and alcoholic beverages, tobacco, and narcotics (-2.2%). 

Household expenditure by consumption purpose, corrected for inflation. EU. 2023. Bar chart - Click below to see full datasetbelow

Source dataset: nama_10_cp18

For more information

Methodological notes

Please note that the recent benchmark revision of national accounts has been incorporated in the estimates of nearly all countries. The results are based on COICOP 2018.

Share this article:

Share this:
Related Topics:
EU Reporter publishes articles from a variety of outside sources which express a wide range of viewpoints. The positions taken in these articles are not necessarily those of EU Reporter. Please see EU Reporter’s full Terms and Conditions of publication for more information EU Reporter embraces artificial intelligence as a tool to enhance journalistic quality, efficiency, and accessibility, while maintaining strict human editorial oversight, ethical standards, and transparency in all AI-assisted content. Please see EU Reporter’s full A.I. Policy for more information.
Advertisement

Trending