Real household income in the OECD area grows more slowly than the increase in per capita GDP. In this context there is only one exception: Italy.
In the fourth quarter of 2017, the real per capita income of households - which, as the OECD underlines, provides a better picture of private well-being than the data on GDP - in the area that brings together the 35 industrialized countries marked an increase of 0,3, 0,2% from +0,5% in the first three months. In the same period, per capita GDP grew by XNUMX%.
Among the G7 countries, the OECD points out, the growth of real private income slowed down "with the exception of Italy" which instead recorded a 0,9% increase in per capita household income in the fourth quarter, accelerating from +0,8% in the third quarter and above all "significantly" above the per capita GDP growth which slowed down to +0,3%.
The Parisian institution notes that in the last nine quarters the growth of per capita GDP in the OECD area has accumulated 1,5 percentage points more than that of household disposable income. Among the seven largest economies, the largest gap is found in the United Kingdom (4,6 points), followed by the United States (1,7 points), Italy (0,9 points), Germany (0,9 points) and France ( 0,2 points).
