Real incomes in Hungary increased by three percent in the second quarter of this year, according to the OECD's survey of 21 countries.
Among the OECD countries, Hungary had the largest increase in real household income per capita in the second quarter of 2023, the Paris-based organization announced recently. In addition, the real per capita income of households rose for the fourth consecutive quarter, by 0.5 percent in the second quarter of 2023, while the real GDP per capita expanded by 0.4 percent, Világgazdaság reports .
According to the analysis, the domestic growth of three percent can be attributed to the easing of inflationary pressure, the article highlights. At the same time, despite the general increase in real household income per capita, the picture is mixed: of the 21 countries for which data are available, real income increased in only 11 in the second quarter of 2023. Among the G7 economies, only Italy recorded a decline. The largest increase of 1.2 percent was recorded in Canada, and the second highest in the United Kingdom, where the surplus comes from increases in social benefits and, to a lesser extent, workers' compensation.
On the other hand, the real income of households per capita decreased the most in Poland (3.4 percent), and in addition, the real GDP per capita also decreased there, by 1.3 percent.
Photo: Facebook / OECD
