10198_not-searchable
/en/nasjonalregnskap-og-konjunkturer/statistikker/knri/arkiv
10198
Households’ savings are increasing
statistikk
2009-11-26T10:00:00.000Z
National accounts and business cycles
en
knri, National accounts, non-financial sector accounts, households, non-profit organisations, disposable income, disposable real income, saving rate, income, expenditures, savings, FISIM, net financial investments, dividendsNational accounts , National accounts and business cycles
false

National accounts, non-financial sector accounts, Q3 2009

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Households’ savings are increasing

Households’ and NPISHs’ disposable real income showed a 2.5 per cent increase in the 3rd quarter of 2009 in comparison to the 2nd quarter. The seasonal adjusted savings ratio was 8.0 per cent in the 3rd quarter.

Households’ real disposable income, seasonally adjusted, (2007=100) Q1 2006 -Q3 2009

Savings ratio, seasonally adjusted Q1 2002-Q3 2009

Seasonally-adjusted figures show a 2.3 per cent nominal increase in disposable income from the 2nd to the 3rd quarter of 2009. The increase in the households’ and the non-profit institutions serving households’ (NPISHs) disposable income is mainly due to higher level of compensation of employees and pensions and benefits from the general government.

Increase in compensation of employees and pensions

Pensions and social contributions increased by 1.3 per cent from the 2nd to the 3rd quarter of 2009. This was mainly due to the old-age and disability pensions. Compensation of employees showed also an increase of 1.0 per cent.

Net interest paid as a ratio of disposable income - seasonally adjusted Q1 2002-Q3 2009

High savings in the 3rd quarter

Savings - defined as disposable income minus final consumption expenditure and corrected - of NOK 18 billion were recorded in the 3rd quarter of 2009. The seasonally-adjusted figures show an increase from the 2nd to the 3rd quarter of 2009.

Annual figures for all the institutional sectors as well as the households sector are revised and this caused an upward revision of the savings rate figures for the years of 2007 and 2008. For more information regarding this, please check the article: National accounts, Institutional sector accounts, 2009.

Disposable income and savings ratio for households and NPISHs, seasonally adjusted
 
  Disposable income Disposable income Household saving ratio
 
1st quarter 2006 -8.6 -10.3 0.6
2nd quarter 2006 0.3 0.3 -1.2
3rd quarter 2006 3.0 3.0 0.9
4th quarter 2006 0.7 0.7 -0.1
      1.5
1st quarter 2007 3.6 2.4 0.7
2nd quarter 2007 0.0 0.0 2.2
3rd quarter 2007 2.5 2.5  
4th quarter 2007 1.8 1.8 1.5
       
1st quarter 2008 -0.4 -4.0 -0.9
2nd quarter 2008 5.2 5.2 4.2
3rd quarter 2008 0.3 0.3 4.0
4th quarter 2008 2.7 2.7 6.5
       
1st quarter 2009 0.3 -1.8 6.8
2nd quarter 2009 2.4 1.6 7.2
3rd quarter 2009 2.3 2.5 8.0
 

Revisions

Quarterly institutional sector accounts are based on preliminary calculations. The uncertainty in the last quarter is the largest. New information is continuously integrated into the figures, which could cause revisions in the previously released data. Quarterly sector accounts are also consolidated against the data from the quarterly national accounts data. When the last quarters of the unadjusted series are updated, seasonally-adjusted series may also be revised backwards.

 

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