Household income advances in the eurozone and EU in Q3 2022

Household income advances in the eurozone and EU in Q3 2022

Real household income in the eurozone increased by 0.4% in the third quarter of 2022 and that of the European Union (EU) rose by 0.1%, according to data released today by Eurostat.

The rise in the eurozone between July and September compares with a 0.1% increase in the same period a year earlier and a 0.7% decline in the previous quarter.

In the EU, real household income advanced 0.4%, after remaining flat in the third quarter of 2021 and falling 1.1% in the previous quarter.

Real household consumption in the euro zone, meanwhile, advanced 0.5%, maintaining the pace of the previous quarter and slowing from the previous quarter (3.9%).

In the EU, according to the European statistical service, real household consumption advanced 0.7% between July and September, accelerating in relation to the 0.4% of the previous quarter, but showing a strong retreat when compared to the same period the previous year (4.1%).

Real per capita household income is defined as adjusted nominal gross disposable household income divided by the total population (national accounts concept) and by the deflator (price index) of household final consumption expenditure.

Real household consumption per capita is defined as real household final consumption in nominal terms divided by total population and the household final consumption expenditure deflator.