Household savings rate increases from 10.1% to 10.7% in the 3rd quarter.

Families' savings rate highest since 2021 in the 3rd quarter of 2024.

The household savings rate increased by 0.6 percentage points in the third quarter compared to the previous one, settling at 10.7% of available income, as revealed by the National Institute of Statistics (INE).

According to what is read on the News at the Minute, INE registers this as the highest value since the 4th quarter of 2021, when the rate reached 10.9%.

According to the "Quarterly National Accounts by Institutional Sector" from INE, this increase is due to the 2.3% growth of gross disposable income (RDB), which exceeded the 1.6% increase in private consumption.

INE highlights that this data is in nominal terms, with private consumption being influenced by price growth. In real terms, private consumption recorded an increase of 1.0% in the year ending in the 3rd quarter of 2024.

The GDP per capita of families reached 18.0 thousand euros in the 3rd quarter of 2024, representing a 2% increase compared to the previous quarter. 'Per capita' incomes rose 1.9%, to 12.8 thousand euros.

The adjusted GDP per capita, which includes goods and services provided by Public Administrations for household consumption, recorded an increase of 1.3% in the 3rd quarter, following a growth of 1.2% in the previous quarter.

Finally, the real final consumption ‘per capita’ increased by 0.8% in the 3rd quarter of 2024, above the growth of 0.5% recorded in the previous quarter, highlighted by the INE.

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