6/2019 - 11 January 2019
First release for the third quarter of 2018
Household saving rate up to 12.3% in the euro area
Household investment rate stable at 9.1%
The household saving rate in the euro area was 12.3% in the third quarter of 2018, compared with 12.1% in the second quarter of 2018.
The household investment rate in the euro area was 9.1% in the third quarter of 2018, stable compared with the previous quarter.
These data come from a first release of seasonally adjusted quarterly European sector accounts from Eurostat, the statistical office of the European Union and the European Central Bank (ECB).
Household saving rate and investment rate in the euro area (seasonally adjusted)
Saving rate
16%
15%
14%
13%
12%
11%
10%
13%
12%
11%
10%
9%
8%
7%
Q1 Q1
2007
Q2 Q2
Q3 Q3
Q4 Q4
Q1 Q1
2008
Q2 Q2
Q3 Q3
Q4 Q4
Q1 Q1
2009
Q2 Q2
Q3 Q3
Q4 Q4
Q1 Q1
2010
Q2 Q2
Q3 Q3
Q4 Q4
Q1 Q1
2011
Q2 Q2
Q3 Q3
Investment rate
Q4 Q4
Q1 Q1
2012
Q2 Q2
Q3 Q3
Q4 Q4
Q1 Q1
2013
Q2 Q2
Q3 Q3
Q4 Q4
Q1 Q1
2014
Q2 Q2
Q3 Q3
Q4 Q4
Q1 Q1
2015
Q2 Q2
Q3 Q3
Q4 Q4
Q1 Q1
2016
Q2 Q2
Q3 Q3
Q4 Q4
Q1 Q1
2017
Q2 Q2
Q3 Q3
Q4 Q4
Q1 Q1
2018
Q2 Q2
Q3 Q3
Q4 Q4
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
Geographical information
The euro area (EA19) consists of 19 Member States: Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland, plus the European Central Bank and the European Stability Mechanism.
Methods and definitions
The gross saving rate of households (household saving rate) is defined as gross saving divided by gross disposable income, with the latter including the change in the net equity of households in pension funds reserves. Gross saving is the part of the gross disposable income which is not spent as final consumption expenditure. Therefore, the saving rate increases when gross disposable income grows at a higher rate than final consumption expenditure.
The gross investment rate of households (household investment rate) is defined as gross fixed capital formation divided by gross disposable income, with the latter being adjusted for the change in the net equity of households in pension funds reserves. Household investment mainly consists of the purchase and renovation of dwellings.
The compilation of the European sector accounts follows the European System of Accounts 2010 (ESA2010) and covers the period from the first quarter of 1999 onwards.
Institutional sectors bring together economic units with broadly similar characteristics and behaviour, namely: households (including non-profit institutions serving households), non-financial corporations, financial corporations, government and the rest of the world. In the latter, to measure the external transactions of the euro area / European Union (EU), it is necessary to remove cross-border flows within the area concerned.
Eurostat website includes detailed annual and quarterly sector accounts of Member States of the European Economic Area and derived key indicators published around 120 days after each quarter (which also cover annual indicators such as debt-to-income ratios). A subset of quarterly key indicators is published around 94 days after each quarter.
Revisions and timetable
Compared with data released on 26 October 2018, the household saving rate for the second quarter of 2018 remains unchanged. The household investment rate for the second quarter of 2018 has been revised from 9.0% to 9.1%.
The final news release for the third quarter of 2018, focussing on data for household real income and consumption per capita for both the euro area and the EU, will be published on 29 January 2019. At the same time, the complete set of sectoral data will be updated in the dedicated section of the Eurostat website.
For more information
Eurostatquarterly data on sector accounts (including complete euro area dataset - previous vintage) Eurostatannual data on sector accounts (including complete euro area dataset - previous vintage) Eurostatmetadata on European sector accounts compilation
Detailed data and methodology on the Eurostat websitehere and on the ECB websitehere Eurostat €-indicatorsrelease calendar
Issued by: Eurostat Press Office | For further information: |
Baiba GRANDOVSKA | Peter GAL |
Tel: +352-4301-33444 | Orestis TSIGKAS |
eurostat-pressoffice@ec.europa.eu | Tel: +352-4301-33864 |
estat-sector-query@ec.europa.eu |
EurostatStatisticsec.europa.eu/eurostat/
@EU_EurostatMedia requests: Eurostat media support / Tel: +352-4301-33 408 /eurostat-mediasupport@ec.europa.eu
Key indicators and growth rates of selected transactions of the euro area (EA19)
Not seasonally adjusted
Q1
11.5
2007
15.9
Q3
9.9
Q4
12.6
Q1
11.1
Q2
16.6
2008
Q3
10.3
Q4
13.2
Q1
12.9
Q2
17.6
2009
Q3
11.8
Q4
14.0
Q1
11.7
2010
16.8
Q3
10.5
Q4
12.6
Q1
11.0
Q2
16.4
2011
Q3
9.5
13.0
Q1
10.9
2012
16.1
9.7
Q4
12.2
11.2
Q2
15.5
2013
Q3
10.0
Q4
12.7
11.5
Q2
15.4
2014
10.4
13.1
11.4
Q2
15.3
2015
Q3
9.8
Q4
13.1
Q1
11.2
Q2
15.6
2016
Q3
9.7
12.4
Q1
10.7
2017
15.0
9.0
Q1
12.5
10.6
2018
Q2
Q3
15.4 9.6
The source dataset is availablehere.
Seasonally adjusted
12.7
12.4
12.4
12.5
12.3
12.9
12.7
13.5
14.1
13.9
14.2
14.1
13.2
13.1
13.0
12.5
12.6
12.7
12.2
12.8
12.3
12.5
12.3
12.0
12.3
12.4
12.3
12.4
12.6
12.5
12.8
12.6
12.6
12.5
12.4
12.6
12.4
12.6
12.4
11.9
12.0
11.8
11.7
11.9
11.8
12.1 12.3
Investment rate, %Not seasonally adjusted
11.4
11.5
11.8
11.4
11.1
10.9
11.1
10.4
9.5
9.4
9.5
9.3
8.9
9.3
9.5
9.3
9.1
9.1
9.4
9.1
8.5
8.7
9.0
9.0
7.9
8.4
8.8
8.5
8.1
8.2
8.5
8.2
7.9
8.1
8.4
8.3
8.0
8.5
8.7
8.5
8.5
8.7
9.0
8.8
8.7
9.1 9.4
9.0
9.1 9.1
Seasonally adjusted
11.6
11.6
11.5
11.3
11.4
11.0
10.7
10.3
9.8
9.5
9.2
9.2
9.1
9.4
9.3
9.2
9.3
9.2
9.1
9.0
8.7
8.7
8.7
8.9
8.2
8.4
8.6
8.4
8.4
8.2
8.3
8.2
8.1
8.1
8.1
8.3
8.2
8.5
8.5
8.5
8.7
8.7
8.7
8.8
Nominal growth, % change compared withthe previous quarter (Seasonally adjusted)
Gross adjusted disposable income
0.7
0.9
1.1
1.3
0.9
1.1
0.5
-0.5
-0.6
0.4
0.6
0.4
-0.3
0.5
0.7
0.4
0.5
0.6
-0.1
0.5
0.0
-0.1
-0.2
-0.1
0.2
0.4
0.4
0.4
0.4
0.4
0.8
0.3
0.5
0.6
0.7
0.4
0.6
0.7
0.4
0.6
0.8
0.6
0.7
0.8
0.7
0.9 0.8
Gross fixed capital formation
1.8
0.2
0.2
0.2
1.5
-2.4
-2.2
-4.5
-5.7
-2.9
-2.4
0.3
-1.7
3.6
-0.7
-0.2
1.6
-0.8
-0.6
-0.6
-3.2
-0.1
-0.3
1.8
-8.1
2.6
2.6
-1.1
-0.2
-1.7
1.7
-1.0
-0.9
0.3
1.8
2.2
0.0
3.8
0.2
0.8
3.7
0.5
0.8
1.5
Actual final consumption
0.9
1.2
1.1
1.2
1.2
0.6
0.7
-1.0
-1.1
0.6
0.3
0.5
0.6
0.6
0.8
0.8
0.4
0.6
0.4
-0.1
0.5
-0.2
0.0
0.1
-0.1
0.3
0.4
0.3
0.3
0.4
0.5
0.5
0.4
0.8
0.7
0.2
0.7
0.5
0.6
1.1
0.7
0.8
0.8
0.6
3.0
0.8
1.7 1.0
0.7 0.6
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EUROSTAT - European Union Statistical Office published this content on 11 January 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 11 January 2019 10:28:04 UTC
