Greek households lost an additional 14 billion euros of available income in 2013,according to data released by the Hellenic Statistical Authority (ELSTAT).
This was mainly the result of a 10.7% reduction in workers΄ wages and a 12.3% reduction in social transfers received by households; Available income of households was thus reduced 10.2%, falling to 122.2 billion euros by the end of 2013 from 136.2 billion euros at the end of 2012; In the five years since the start of the economic crisis in Greece, the available income of Greek households was slashed 48.4 billion euros as a result of austerity policies, from an initial figure of 170.6 billion euros in 2009.
As a result, final consumer spending by households and non-profit organizations serving households fell by 4.8 billion euros (down 3.6%), to 129.9 billion euros at the end of 2013 from 134.7 billion euros at the end of 2012.