Part I of this series reviewed some data about the United States growing much faster than the welfare states of the European Union.
Part II of the series looked at some very depressing data about the European Union losing ground compared to the United States, even though convergence theory tells us that should not happen.
For today’s installment, let’s see what the European Union’s statistical body concluded in a new report about the region’s economic performance. We’ll start with this chart showing that inflation-adjusted disposable income (the blue line) declined last year.
To be sure, American households also suffered a decline in inflation-adjusted income, so this is not just a Europe-specific problem.
Here’s some of Eurostat’s analysis.
…the nowcasted median disposable income will decrease in real terms in most EU countries. Rising prices for essential items (goods and services), such as food, energy and transport were the main reason for…
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Utopia, you are standing in it! 
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