Iceland's gross domestic product is on pace to increase 3.1% in 2014 according to Statistics Iceland. Additionally, further expansion is expected in 2015 with predicted GPD coming in at 3.4%.
Disposable income for the average Icelandic citizen has been increasing as a result of wage growth and the strengthening of the labor market. Private consumption growth is predicted to gain steam in 2014 and 2015 and could reach 3.9% and 3.7% respectively. For 2016 through 2018 private consumption is forecasted to increase 3% year over year.
Iceland's gross domestic product is on pace to increase 3.1% in 2014 according to Statistics Iceland. Additionally, further expansion is expected in 2015 with predicted GPD coming in at 3.4%.
Disposable income for the average Icelandic citizen has been increasing as a result of wage growth and the strengthening of the labor market. Private consumption growth is predicted to gain steam in 2014 and 2015 and could reach 3.9% and 3.7% respectively. For 2016 through 2018 private consumption is forecasted to increase 3% year over year.
