The purchasing power of the Portuguese was 29 % below the OECD average in 2011
The purchasing power of the Portuguese gives the gross domestic product (GDP) or value of all final goods and services produced in a given year. Between 2008 and 2011 the Portuguese were poorer compared with the purchasing power of the average of OECD countries. Gross capita expressed in Purchasing Power Parity (per capita GDP), per domestic product of Portugal in 2011 stood at 71% of the average of the Organization for Economic Cooperation and Development . This indicates that in that year, the purchasing power of the Portuguese was 29% lower than the average of the 47 countries covered in this indicator released on Wednesday by the OECD, which uses a new methodology to calculate. A new methodology for this indicator, which is published every three years incorporates new weights for the three thousand goods and services that make up the basket of prices that is integrated in GDP. In 2008, this same indicator placed Portugal with a GDP per capita of 73 %, which means that th...