Spain’s consumption grows by 3% nominal at the expense of record low savings

However, in return, there’s a stabilisation of Spanish external debt at 163% GDP and international investment position at -98% GDP. In the case of households, the improvement of workers’ salary cannot compensate for the fall in the property income received (interests and dividends) and the greater payment of income taxes and social contributions (increase of the affiliation to the Social Security.

“The result was that disposable income in the 2Q14 was 0.8% lower than last year’s. If we consider a consumption growing at 3%, the savings rate has registered minimum levels at 9% income,” experts at Afi explain.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

Be the first to comment on "Spain’s consumption grows by 3% nominal at the expense of record low savings"

Leave a comment