Household saving rate higher in the EU than in the USA despite lower income - Issue number 29/2009 - Products Statistics in Focus

This "Statistics in Focus" is a new publication based on the national accounts data of the households sector. In 2007, which is before the ongoing slowdown, household real income per capita was about 50% higher in the United States than in the euro area (and 70% higher than in the EU). In Europe, Norway had the highest real income per capita whereas Latvia had the lowest. Households saved a bigger proportion of their disposable income in the euro area and, to a lesser extent, in the EU than in the US. In Europe, the highest saving rates were recorded in Switzerland and the lowest in the UK. Households invested a higher proportion of their disposable income in the euro area and EU than in the US. Among European countries, the highest household investment rate was recorded in Ireland and the lowest in Sweden.