Household saving rate in the eurozone reaches record value in three years.
The savings rate of European families increased again in the first quarter of 2024, after three years.
17 jul 2024 • 2 min
Household savings rate in the euro zone increases to 15.3%
The household savings rate in the eurozone reached the highest level in three years, rising to 15.3% in the first quarter of 2024. The value had not been this high since the second quarter of 2021, according to data from Eurostat shared by Notícias ao Minuto.
The rate in question for the first three months of the year compares to a percentage of 13.6% in the same period in 2023 and 14.1% in the fourth quarter of 2023.
The highest savings rate than this should have been then in the second quarter of 2021 <\b> during the Covid-19 crisis, totaling 19%.
Eurostat justifies the current rise by the fact that gross disposable income has increased by 2.1%, at a faster pace than consumption (+0.8%).
Regarding the investment rate of families in the euro area in the single currency area, it decreased slightly from 9.6% to 9.5% in the first quarter of 2024 - the lowest value since the first quarter of 2021. The reason is that gross fixed capital formation increased by 1.1%, a rate lower than that of gross disposable income (+2.1%).
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