Statistics Explained

Quarterly sector accounts - households


Data extracted on 27 January 2023.

Planned article update: 27 April 2023.

Highlights

In the third quarter of 2022, the household saving rate dropped down to 13.2% in the euro area and 12.4% in the EU.

In the third quarter of 2022, the household investment rate dropped down to 9.9% in the euro area and 9.6% in the EU.

Household saving rate, seasonally adjusted - 2022 third quarter
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. A similar 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 down in the euro area and in the EU

The household saving rate in the euro area (EA-19) was 13.2 % in the third quarter of 2022, compared with 13.4 % in the previous quarter. In the EU the household saving rate was 12.4 % in the third quarter of 2022, compared with 13.0 % in the second quarter of 2022.

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: Household saving rate, seasonally adjusted - 2022 third quarter
Source: Eurostat

Household investment rate decreased slightly in both the euro area and the EU

In the euro area, the household investment rate was down to 9.9 % in the third quarter 2022 compared with 10.1 % in the second quarter of 2022. In the EU, the household investment rate was down to 9.6 % in the third quarter of 2022 compared with 9.8 % in the previous quarter.

Figure 2: Household investment rate, seasonally adjusted - 2022 third quarter
Source: Eurostat

In the euro area in the third quarter of 2022, in nominal terms, household income increased by 2.3 % while consumption increased by 2.4 % [2]. Investment (gross fixed capital formation, mostly in dwellings) increased by 0.6 %.

Figure 3: 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) - 2022 third 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 sequence of accounts 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 and annual 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.

  • The European Union (EU) consists of 27 Member States: Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland and Sweden plus the EU institutions.
  • The euro area (EA-19) 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, the European Stability Mechanism and the European Financial Stability Facility. From 1 January 2023 the euro area (EA20) also includes Croatia. The aggregate data series presented in this release still refer to EA19.

Source data for tables and graphs

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

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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'.