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Transcription
Germany has experienced a higher increase in household income compared to other European countries, while the UK has seen a decline after Brexit. In 2022, Germany had a household saving rate of 19.9%, while the UK had only 2.0%. In 2023, eight EU countries saw an increase in household saving rates, while seven saw decreases. Hungary had the largest increase at 5.3%, while Spain and Ireland had the largest decreases. The data was obtained from the OECD and confirms the importance of household income in the economy. Stay tuned for the next episode of Economy in Pillow. Good morning dear listeners and welcome to the Economy Pillow Podcast. Here is Koli and today we are going to delve into something that might interest everyone, household disposable income. During his second term, President Frank-Walter Steinmeier of Germany announced to the press that his country experienced a higher increase in the household income among all European countries from 2000 to 2023, whereas the UK witnessed a significant decline during the same period after Brexit. In the last year, analysed 2022, the gross household saving rate ranged from 0.94% in Greece to 19.9% in Germany, according to Eurostat. Comparing Germany and the UK, we can notice a huge difference in the household savings of 11.2% for Germany and a miserable 2.0% for the UK between the year 2000 and 2022. Looking at 2023, the saving rates in both the EU area and the European Union, eight state members saw an increase in household saving rates, one remained stable, and seven experienced decreases. Hungary saw the largest increase at the plus 5.3% point, while Spain and Ireland witnessed the largest decrease at minus 2.8% point and minus 1.8% point, respectively. The methodology used to get this data involved consulting the Organisation for Economic Co-operation and Development, OECD, an organisation dedicated to building better policies for better lives. Afterward, it has been checked at the household savings section of the OECD website. Initially, the research has focused on area countries to identify the European countries with the highest household income between 2000 and 2002, which has been found to be Germany. Subsequently, it has been compared Germany and the UK, and based on this comparison has been created about child use and excel. The choice of personal household use for the income as an indicator confirms the importance that it plays in the economy, its shape, consumer spending, business profitability, and individual savings and investment. And that's all for today. If you want to keep informed, you just have to stay tuned to the next episode of Economy in Pillow.
