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Weekly Bulletin issue no. 19, 1998 <sti>Stikktittel

National accounts, institutional sector, 1995-1997:

High household saving rate

Household saving in the preliminary national accounts for 1997 are estimated at NOK 35 billion, up NOK 3.9 billion from 1996. The high saving by households is largely explained by higher disposable income.
From 1995 to 1996 saving increased by NOK 3.5 billion, to NOK 31.1 billion. In both 1996 and 1997 disposable incomes rose faster than household consumer expenses. The increase in the aggregate disposable income for households is estimated at 6.4 per cent in 1996 and six per cent in 1997.

The estimated household saving rate (saving as a portion of disposable income) was 6.4 per cent in 1997, while in 1996 it was estimated at 6.1 per cent. Compared to earlier versions of the accounts, this is an upward adjustment 0.7 for 1996 and 0.8 for 1997.

Increased wage earnings

The increase in income in the last two years is mainly because of higher wage earnings. In 1996, employment income increased by 7.4 per cent, while the increase in 1997 was fully eight per cent. Unearned income has also contributed to higher disposable income in the households. While net capital income was negative in 1995, it was on the plus side in both 1996 and 1997. This is the first time households have shown positive net capital income in the national accounts time series, which date back to the mid-1970s.

New Statistics

National accounts, institutional sectors, 1995-1997.
The statistics are published every year in the Weekly Bulletin of Statistics. For more information, contact: kristin.olsen@ssb.no, tel. +47 21 09 48 93, or jon.ivar.rostadsand@ssb.no, tel. +47 21 09 48 58.

Weekly Bulletin issue no. 19, 1998