Healthcare spending is expected to be resilient
Using data from Jefferies US and European Research, this week’s infographic asks to what extent consumers across five major economies (USA, Italy, Germany, UK, France and Italy) see healthcare spend as a significant area for spending cuts.
Earlier this week, Jefferies published the results of its proprietary survey of consumers across Europe and the US to assess the impact of rising living costs and a looming recession. Healthcare spend is expected to be resilient, though there are significant differences by geography.
The table on the left shows the percentage of consumers who expect to significantly cut back their spending across different areas. Fuel and food top the charts here. On the right, you can see the relative differences between countries. Given its private pay-funded for-profit slanted system, there is little surprise that USA consumers are three-and-a-half times more focused on healthcare than those in the UK, France and Germany. But Italy is the clear European outlier here, with consumers there 2.7 times more concerned than their European neighbours.
A spokesperson tells HBI: “The survey corroborates with Jefferies’ view that healthcare spend is not perceived as a significant area of spending cuts for consumers.” The survey assesses the impact of inflation and interest rates on consumer behaviour and suggests that low consumer confidence driving household spending cuts hasn’t led to expectations of weakening business conditions in the sector.
We would welcome your thoughts on this story. Email your views to David Farbrother or call 0207 183 3779.
