Last week, we detailed the difference between GDP and GNI (which calculates what is left of the GDP after netting dividend and other flows out of and into the country). That gives us the foundation for assessing what sort of prosperity is being created in the Czech Republic. The news is good. This week will we jump to the other side of the spectrum to take a look at how individual citizens are spending that prosperity.
This week will we jump to the other side of the spectrum to take a look at how individual citizens are spending that prosperity. In 2014, household consumption rose to 7300 euros per person. That was the 22nd highest amount in the EU, and a 2000 euro increase on the household consumption per person in 2005. Not bad at all. That 38% rise in what people could spend represented the 8th fastest jump in Europe and the 15th largest increase nominally.
So how did people spend their newfound wealth?
Read full article below (in English).
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