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53755
Steady savings in households
statistikk
2011-05-26T10:00:00.000Z
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, Q1 2011

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Steady savings in households

Households’ disposable income increased by 0.8 per cent from the 4th quarter of 2010 to the 1st quarter of 2011, and the savings were slightly higher than in the two previous quarters, according to seasonally-adjusted figures.

Households’ real disposable income, seasonally adjusted, (2007=100)

Behind the growth in disposable income is an increase in compensation of employees and in payments and benefits from the general government. However, higher property income paid as well as lower property income received contributed to soften the growth in disposable income.

Households’ savings, which is measured by the difference between disposable income and consumption expenditure, was almost NOK 36 billion in the 1st quarter of 2011. In comparison, the estimate for 2010 as a whole is NOK 86 billion. When adjusting for seasonal variations, the savings were slightly higher in the 1st quarter compared with the previous quarter.

 

See National accounts, sector accounts for more information on revisions of annual figures.

Households and NPISH. Income and expenditures1. NOK billion
 
  2008* 2009* 2010* Real growth. Percentage2 Contribution to growth on disposable real income.
Percentage points
  2008* 2009* 2010* 2008* 2009* 2010*
 
Income 1 460,1      1 504,3      1 582,1      5,2      0,5      3,2      7,6      0,7      4,5
Compensation of employees  857.0  884.0  919.5 5.3 0.6 2.0 4.5 0.5 1.7
Mixed income  110.9  111.7  121.1 -1.3 -1.7 6.3 -0.1 -0.2 0.7
Property income received 96.7 72.1 77.6 16.3 -27.2 5.6 1.4 -2.6 0.4
Amount of which is due to dividends 26.5 24.8 27.9 38.3 -8.7 10.1 0.8 -0.2 0.2
Pensions and benefits from general government  298.3  326.5  345.2 3.5 6.8 3.7 1.1 2.0 1.1
Other income (net) 56.2 60.9 68.2 -0.3 5.6 9.8 0.0 0.3 0.6
Correction for FISIM 41.0 48.9 50.6 21.0 16.6 1.4 0.7 0.7 0.1
                   
Expenditures  466.7  441.1  453.2 8.9 -7.8 0.8 -4.0 3.7 -0.3
Current taxes on income, wealth, etc.  337.8  354.9  368.4 2.5 2.5 1.8 -0.8 -0.8 -0.6
Property income paid  128.9 86.1 84.8 30.6 -34.8 -3.4 -3.1 4.5 0.3
                   
Disposable income  993.4 1 063.2 1 129.0 3.6 4.4 4.1 . . .
 
1  The components do not sum up to the totals due to rounding.
2  National accounts price index for consumption by households and NPISHs is used as a deflator.

Revisions

Quarterly sector accounts are based on preliminary calculations. The uncertainty in the last quarter is the largest. New information is continuously being 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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