What drives household consumption in the EU-28?

Sylvain Bouyon

ECRI Papers from Centre for European Policy Studies

Abstract: Given that final consumption of households has contributed on average to broadly 60% of EU-28 GDP since 2001, an assessment of the drivers behind its dynamics is quite timely in a context of gradual economic recovery. The empirical analyses presented in this ECRI Commentary, covering 19 of the EU-28 economies, suggest that disposable income of households, consumer credit markets and the developments in housing markets have had a significantly positive impact on the growth of household final consumption since 2001. On the other hand, demographic trends do not seem to have played any significant role.

Pages: 9 pages
Date: 2015-12
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Persistent link: https://EconPapers.repec.org/RePEc:eps:ecriwp:11148

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