Changes in Household Consumption and their Relation to GDP Changes in EU Countries Cover Image

Zmiany w konsumpcji gospodarstw domowych i ich związek ze zmianami PKB w krajach UE
Changes in Household Consumption and their Relation to GDP Changes in EU Countries

Author(s): Anna Śleszyńska-Świderska
Subject(s): Economy, Supranational / Global Economy, Financial Markets, Public Finances, Business Ethics, Socio-Economic Research
Published by: Społeczna Akademia Nauk
Keywords: consumption; UE households; consumer expenditure; gross domestic product; cluster analysis

Summary/Abstract: The aim of the article is to identify the direction of changes in consumer spending of EU households and their relation to GDP changes in 2008-2015, as well asto identify countries where consumption spending in 2008-2015, changed the most andthe least. The research hypothesis was formulated as follows: in 2008-2015 as a result of the economic slowdown in EU countries measured by GDP, EU households initially limited consumer spending, and increased it only at the end of the analyzed period, which was accompanied by a growing rate of change in GDP. Regardless of the level of economic growth measured in GDP in EU countries, changes in consumer spending did not proceed to the same extent. The years 2008-2015 are a period sensitive to EU spending of households, which were limited. This is due in particular to the fact that in the first five years of the period under review, a recession in the EU countries was observed. Then, however, there was a slow improvement in the economic situation of the EU countries. The decline in the GDP growth rate shows that the economic downturn has affected all EU countries to a greater or lesser extent. In the period under review, there was a moderate (r= 0.353 and p <0.01) correlation between the rate of changes in household. consumption expenditure and the rate of change in GDP in the EU. The applied cluster analysis showed that both in EU countries with a higher level of GDP and lower, larger and smaller changes in household consumption were observed.

  • Issue Year: 19/2018
  • Issue No: 10.1
  • Page Range: 503-520
  • Page Count: 18
  • Language: Polish