Savings rate in Portugal was the fastest growing in the 1st quarter.
The savings of Portuguese families in the 1st quarter grew more than those of families in the eurozone and European Union. Check out the numbers below.
22 ago 2024 • 2 min
Portuguese savings grew more than the rest of Europeans in the 1st quarter.
The savings rate of Portuguese families increased the most in the 1st quarter among the euro area and the European Union (EU), with 5.1 percentage points (pp).
According to Eurostat, as reported on Notícias ao Minuto, the savings rate of the Portuguese experienced the highest growth among the Member States, with an overall increase of 1.4 percentage points in the savings rate in this area.
On the other hand, the investment rate of households decreased by 0.1 pp overall and 0.3 pp in Portugal - with the country experiencing the second largest drop (-0.5 pp) compared to the previous quarter.
In addition, "among the Member States, the household savings rate had the largest growth in Portugal (5.1 percentage points), followed by Italy (2.6 percentage points) and Spain (1.2 percentage points), with Hungary (-2.6 percentage points), Greece (-2.0 percentage points) and the Czech Republic (-1.9 percentage points) recording the largest declines," the news reads.
The only countries (for which data is available) where the investment rate increased were Greece (0.5pp), Germany and Belgium (0.1pp each), and the biggest drops were seen in Hungary (-1.0pp), Denmark and Portugal (-0.5pp each), and Poland (-0.4pp).
Regarding actual household consumption, it grew by approximately 0.2% in the euro area and the European Union between January and March, taking into account that real income also increased by 1.5% and 1.6%, respectively, compared to the last quarter of 2023.
Want to increase your savings? Poupança no Minuto finds financial solutions to lower the amounts you pay for your credit products and/or insurance, through completely free mediation processes with the contracting entities! Talk to an agent now:
Did you enjoy reading? Share it!
Related Articles
Savings rate in the eurozone increases, but investment rate slows down.
2 min
Household saving rate in the eurozone reaches record value in three years.
1 min
Household savings rate increases by 0.6 percentage points in the 2nd quarter.
1 min
Household savings rate increases from 10.1% to 10.7% in the 3rd quarter.
1 min
Want to save on credits and insurance?
Subscribe to our newsletter and never miss any content. Learn how to have a healthier financial life.
Talk to an agent now
Want to know more? Talk to one of our agents to clarify any doubts and discover the perfect solution for you.
Call to national landline | Monday to Friday, 9am to 7pm.