Europe`s Purchasing Power stagnates

Last year`s negative economical development influenced Europe`s purchasing power only slightly. In total the average purchasing power of an European stagnated in 2009.

Last year the average purchasing power of an European decreased nominally by 3.7% or 360 euros. Adjusted by exchange rate fluctuations this figure shows a stagnation of Europe`s purchasing power.

Naturally, the developments by countries show different tendencies. Countries, which have been affected severely by the economical crisis, registered also a decrease of purchasing power. Thus Hungary`s purchasing power decreased by 3.5%, Island`s by 12% and Lithuania`s by 15%. These countries were also those in which the depreciation of the respective currencies was very strong. By contrast Austria`s (+0,7%) and Germany`s (0,4%) purchasing power was affected only slightly by the crisis.

For the Eastern European countries last year meant a sudden interruption of their catching-up process. For 2010 the average European purchasing power will not show a rise until 2011-2012.