NEWS8 November 2016

Central and Eastern European purchasing power on the rise

Europe Finance News Trends

EUROPE — A number of European countries, in particular in Central and Eastern Europe, have purchasing power growth rates of over 5%, according to the GfK Purchasing Power Europe 2016 study.

Europe growth crop

According to the study, Europeans have around 0.3% more nominal purchasing power per person in 2016 compared with last year. The highest average purchasing power can be found in Liechtenstein, Switzerland and Luxembourg, while the lowest is in Belarus, Moldova and the Ukraine. 

The report has attributed the low growth in per-capita spending to exchange rate effects and stagnating growth rates in some of the large countries. However, many countries have growth rates above 5%, including Iceland, Bulgaria, Romania, Estonia, the Czech Republic, Bosnia-Herzegovina, Croatia, Malta, Slovakia, Luxembourg and Latvia.

Further detail can be found here