LUXEMBOURG
,
April 26, 2024
(press release)
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Real income per capita up in both euro area and EU Overview These data come from a detailed set of seasonally adjusted quarterly European sector accounts that is published by Eurostat, the statistical office of the European Union. In the EU, household real consumption per capita remained stable in the fourth quarter of 2023, after an increase of 0.4% in the previous quarter. At the same time, household real income per capita increased by 0.4% in the fourth quarter of 2023, after remaining stable in the third quarter of 2023. Components of household gross disposable income Household saving rate increased in the euro area and the EU Among the Member States for which data are published, the household saving rate increased in five Member States, remained stable in two, and decreased in five. Spain had the largest increase (+3.4 pp), followed by Italy (+1.0 pp) and Austria (+0.9 pp). At the same time, the largest decreases were observed in Denmark (-1.8 pp), Portugal (-1.7 pp) and Ireland (-1.6 pp). Household investment rate decreased in the euro area and in the EU Among the Member States for which data are published, the household investment rate increased in four Member States, remained stable in two (Netherlands and Spain) and decreased in the remaining six. Ireland had the largest increase (0.4 pp), followed by Italy (0.2 pp), while the largest decreases were observed in Greece (-0.7 pp) and Belgium (-0.3 pp). Industry Intelligence Editor's Note: This press release omits select charts and/or marketing language for editorial clarity. Click here to view the full report.
In the fourth quarter of 2023, household real consumption per capita slightly decreased by 0.1% in the euro area, after remaining stable in the previous quarter. Household real income per capita increased in the fourth quarter of 2023 by 0.6%, after a decrease of 0.3% in the third quarter of 2023.
During the fourth quarter of 2023, household gross disposable income (in nominal terms, seasonally adjusted) increased by 1.3% in the euro area and by 1.2% in the EU. The increase is mainly explained by the large positive contribution of compensation of employees in both the euro area and EU. Conversely, current taxes and net social contributions was the only negative contributor.
In the fourth quarter of 2023, the saving rate increased by 0.7 percentage points (pp) in the euro area and by 0.5 pp in the EU, compared with the previous quarter.
In the fourth quarter of 2023, the investment rate of households decreased by 0.2 pp in the euro area and by 0.1 pp in the EU, compared with the previous quarter.
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