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Consumption in Greece Relatively Normal Despite Economic Crisis

275023Actual Individual Consumption (AIC) in Greece was relatively high in 2014 reaching 83 percent of European Union average, according to Eurostat figures released on Tuesday.
AIC is a measure of material welfare of households. It is expressed in Purchasing Power Standards (PPS) and in 2014 it ranged from 49 percent to 140 percent of the EU average across member states.
The same year, Gross Domestic Product (GDP) in Greece was at 72 percent of the EU average. GDP ranged between 45 percent in Bulgaria and 263 percent in Luxembourg.
Ten member states recorded AIC per capita above the EU average in 2014. The highest level in the EU was recorded in Luxembourg, 40 percent above the EU average. Germany and Austria were more than 20 percent above.
They were followed by Denmark, Belgium, Sweden, the United Kingdom, Finland, France and the Netherlands which all recorded levels between 10 percent and 15 percent above the EU average.
AIC per capita for twelve member states lay between the EU average and 30 percent below. In Italy, Ireland, Cyprus and Spain, the levels were 10 percent or less below the EU average, while Greece, Portugal and Lithuania were between 10 percent and 20 percent below. Greece was at 83 percent.
Malta, the Czech Republic, Poland, Slovenia and Slovakia were between 20 percent and 30 percent below the average. Six member states showed recorded AIC per capita more than 30 percent below the EU average.
Estonia, Latvia and Hungary were between 30 percent and 40 percent below, while Croatia and Romania had AIC per capita between 40 percent and 45 percent below the EU average and Bulgaria was around 50 percent below.

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