The decline in the share of spending on clothing and footwear, for example, is evident across all income groups. Conversely, households in all income quintiles are spending a higher share on services, with the largest increases evident in expenditure on recreation services, such as pay TV and the internet (Graph 9).
Let me close by extending a big thank you on behalf of the Executive Board of the ECB to all the panellists, speakers and organisers of the conference, who have contributed so much to the success of the SSM’s first anniversary. Ladies and gentlemen, colleagues, I thank you for your interest in our first ECB Forum on Banking Supervision.