RSS
The consumption of the population dropped by 1% in Q4 2012 in Romania and in the EU it kept the same
The consumption expenditure in Romania dropped in Q4 of last year by 1% against the same period of the previous year, after an annual advance of 1% recorded in Q2, while in the EU they were kept constant, according to the barometre of Visa Europe. “Romania is directly connected to the European states through exports and it is normal that the recorded decline in consumption expenditure from European economies for three quarters to be felt, with a certain distance in time on the local market as well. Even so, we hope to see as soon as possible the effects of improvement of the evolution of consumption expenditure from some EU economies with which Romania has tight commercial relations, such as Germany or France” the general manager of Visa Europe for Romania Catalin Cretu stated in a press release.
Consumption expenditure in the EU dropped in Q4 by 0.1% against the same period of 2011 but the trend improved significantly by comparison to the decline of 1.7% recorded in Q3, according to the barometre of consumption expenditure in the EU of Visa Europe.This uses the data adjusted regarding the tradings on Visa cards ( which gets 1 out of 6.75 euro in Europe) to provide a solid indicator regarding consumption expenditure made with any payment method. The barometre was made on the basis of expenditure made on all Visa cards, debt, credit and prepaid. The consumption expenditure at the level of the 27 member states continued to drop in Q4 but they increased in three out of five of the biggest economies, which supported the temperature of the rhythm of decrease. Thus, consumption expenditure increased in annual terms by 1.3% in France, by 2.1% in the UK and 2.6% in Germany.
At the other end is Italy and Spain, states which complete the top of the biggest five economies in the EU which accelerated the rhythm of the decrease in Q4 of 2012, of 7.6%, 6.5% respectively. At the same time, Portugal and Greece continued to record reductions of consumption expenditure of 7.4% and 2% but the decline slowed down by comparison to Q3.
“Consumption expenditure in the EU had in 2012 a weak evolution, as they recorded drops in annual terms in three out of the four quarters. Even so, the expenditure finished 2012 with a positive evolution and situated almost to the same level as in 2011. The coming back of increase of the consumption expenditure in many of the biggest economies in the EU is a welcome indicator and we hope to see this trend in 2013 as well” Philip Symes, financial manager of Visa Europe.