Household expenditure: changes in the EU Member States – Greece
Greece stood at -16%, ranking after Malta, Croatia and Spain., and was followed by Cyprus.
In 2020, household consumption expenditure in the EU decreased by an unprecedented 8% compared with 2019, according to Eurostat. In fact, all the EU Member States recorded a decrease in household consumption expenditure.
This is the largest annual reduction recorded since the time series started and it is due to the effects of the COVID-19 pandemic. Social distancing measures, government restrictions imposed on the movement of people and non-essential economic activities severely affected household consumption expenditure.
When comparing 2019 with 2020, the largest decrease was recorded in Malta (around -22%), followed by Croatia, Spain and Greece (all around -16%).
On the other hand, the smallest decreases were recorded in Slovakia and Denmark (both around -2%), followed by Lithuania and Poland (both around -3%).
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