November 23, 2017

Consumer spending down 0.2 % year-on-year in Q1 in the EU

According to the Visa Europe EU Consumer Spending Barometer press release, in the first quarter (Q1) of 2012, consumer spending in the European Union was subdued registering a decline of 0.2 % across the 27 member states compared against the same period in 2011.Growth was recorded in fifteen EU member states. The first quarter decline represents a second consecutive quarter of stagnant growth and the weakest performance since the region emerged from recession in late 2009. A mixed spending picture was provided by data for the biggest EU economies. Consumer behavior in Eastern Europe conveyed more optimism as growth rates were in double digit territory for Lithuania and Slovenia, while Estonia, Latvia, Poland, and Slovakia all recorded robust increases in household spending. Moreover in Q1 2012, with the exception of Latvia, all of these registered stronger growth rates than those seen in the previous quarter.

Source: Nine o’clock (read more)

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