Business The income of Spanish families fell by more than 1% in the...

The income of Spanish families fell by more than 1% in the second quarter, double the OECD average

File – Resource image of a piggy bank with savings. – PIXABAY – Archive

The income of Spanish households registered between April and June a quarterly fall of 1.06%, the third consecutive, while among the countries of the Organization for Economic Cooperation and Development (OECD) the average was a decline of 0, 5% of actual disposable income per head.

According to the ‘think tank’ of the advanced economies, which have also accumulated three quarters in a row in decline, this fall in household wealth reflects how inflation “continues to undermine the growth of family income when measured in real terms”, in addition of the withdrawal of support measures deployed during the pandemic.

In this sense, the OECD highlighted that the fall in household income was generalized among the countries that make up the organization, with the exceptions of Germany (+0.36%) and Ireland (+0.25%).

Among the main OECD economies whose statistics were available, the setbacks observed in the United States (-0.4%) stand out, extending the fall to five quarters, as well as in the United Kingdom (-1.1%), thus adding four quarters down.

Real disposable income per inhabitant represents the total income received, after deducting taxes and social contributions and including monetary social benefits such as unemployment benefits. The data reveals the maximum amount that a person can allocate to consume without reducing their net wealth.



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