Glossary:Household sector
See household disambiguation page for other meanings of household.
The household sector is an institutional sector in national accounts encompassing all households. Institutional sectors within national accounts bring together economic units with broadly similar characteristics and behaviour.
The household sector is defined in ESA 2010 paragraph 2.118 as
"the households sector (S.14) consists of individuals or groups of individuals as consumers and as entrepreneurs producing market goods and non-financial and financial services (market producers) provided that the production of goods and services is not by separate entities treated as quasicorporations. It also includes individuals or groups of individuals as producers of goods and nonfinancial services for exclusively own final use."
The household sector may be subdivided, according to the largest income category, into: employers and own-account workers; employees; recipients of property income; recipients of pensions; recipients of other transfers.
The other institutional sectors in national accounts are:
- financial corporations;
- government;
- non-financial corporations;
- non-profit institutions serving households.
Related concepts
- Household in social statistics
- Non-profit institutions serving households