Quarterly sector accounts - households


Data extracted on 26 October 2018.

Planned article update: January 2019.

Highlights

In the second quarter of 2018, the household saving rate was up to 12.1 % in the euro area and up to 10 % in the EU-28.

In the second quarter of 2018, the household real income per capita increased by 0.4 % in the euro area.

Figure 1: 2018Q2 Household saving rate, seasonally adjusted
Source: Eurostat

This article focuses on a selection of indicators on quarterly sector accounts for households in the European Union (EU) and the euro area. Covered are, among others, the household saving rate and the household investment rate. Another article focuses on quarterly sector accounts for non-financial corporations, covering, among others, the business investment rate and the profit share of non-financial corporations.



Full article

Household saving rate up in both the euro area and the EU-28

The household saving rate in the euro area (EA-19) was 12.1 % in the second quarter of 2018, compared with 11.9 % in the previous quarter. In the EU-28 the household saving rate was 10 % in the second quarter of 2018, compared with 9.8 % in the first quarter of 2018.

These data come from a detailed set of seasonally adjusted[1]quarterly European sector accounts released by Eurostat, the statistical office of the European Union and the European Central Bank (ECB).

Figure 1: 2018Q2 Household saving rate, seasonally adjusted
Source: Eurostat

Household investment rate still at low levels in the EU-28 and euro area

In the EU-28, the household investment rate was nearly stable at 8.4 % in the second quarter of 2018, compared with 8.3 % in the first quarter of 2018. In the euro area, the household investment rate was 9 % in the second quarter of 2018, stable compared with the previous quarter.


Figure 2: 2018Q2 Household investment rate, seasonally adjusted
Source: Eurostat


In the euro area in the second quarter of 2018, in nominal terms, household income [2] increased by 0.9 %, faster than consumption (+0.7 %). Investment (gross fixed capital formation, mostly in dwellings) increased by 1.7 %.

Figure 3: 2018Q2 Nominal growth of household adjusted gross disposable income, actual final consumption and gross fixed capital formation (euro area) (seasonally adjusted data, change compared with the previous quarter)
Source: Eurostat

Data sources

The compilation of the European sector accounts follows the European System of Accounts 2010 (ESA 2010) 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 / EU, it is necessary to remove cross-border flows within the area concerned.
The ECB and Eurostat publish integrated non-financial and financial accounts, including financial balance sheets, for the euro area. Eurostat also publishes the non-financial accounts of the European Union.
Eurostat's website includes detailed annual sector accounts by country and derived key indicators, which also include the indicators that combine non-financial and financial accounts such as debt-to-income ratios.
The full set of quarterly sector accounts is published for euro area / EU aggregates. Quarterly sector accounts data are also available for most of the European Economic Area (EEA) Member States in the Eurostat database, and a subset of quarterly key indicators is published around 102 days after each quarter at Quarterly data. The EEA members whose GDP is below 1% of the EU total do not have to transmit the quarterly accounts of households to Eurostat.

Source data for tables and graphs

The detailed tables Microsoft Excel 2010 Logo.png are available here.

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National accounts (ESA 2010) (na10)
Quarterly sector accounts (ESA 2010) (nasq_10)
Key indicators (nasq_10_ki)
Non-financial transactions (nasq_10_nf_tr)

Notes

  1. Seasonal adjustment has been performed using the Tramo-Seats method. The seasonally adjusted series are built up indirectly as the sum of seasonally adjusted components.
  2. In this article, household income / consumption refer to the adjusted gross disposable income / actual final consumption of households including the value of goods and services (e.g. in education and health) financed by government. The amount of goods and services financed by government are recorded under 'social transfers in kind'.