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Latest publication: Quarterly sector accounts 2018, 4th quarter

Published: 20 December 2016

The saving rate of the households sector was negative in the third quarter of 2016

The saving rate of the households sector weakened in the third quarter compared with the second quarter and was negative. The weakening of the saving rate was mainly caused by growing consumption expenditure, because households' disposable income also increased in the third quarter. The profit share of the non-financial corporations sector fell slightly compared to the previous quarter as compensation of employees paid by the sector grew faster than value added. The investment rate of non-financial corporations also weakened from the previous quarter. These data derive from Statistics Finland’s quarterly sector accounts.

Key indicators for households and non-financial corporations, seasonally adjusted

Key indicators for households and non-financial corporations, seasonally adjusted

In the third quarter of 2016, the profit share of non-financial corporations, or the share of profits in value added, went down by 0.9 percentage points to 24.7 per cent. The investment rate of non-financial corporations, or the proportion of investments in value added, weakened by 0.7 percentage points to 25.6 per cent. The key figures were calculated from seasonally adjusted time series.

In July to September, households' saving rate declined by 0.2 percentage points to -0.8 per cent. The saving rate refers to the proportion of savings in disposable income. Households' saving rate evened out to 10.8 per cent after four successive quarters of growth. Most of households' investments were investments in dwellings.

Households' adjusted disposable income grew from the corresponding quarter in 2015 by 0.8 per cent adjusted for price changes. Adjusted income is the indicator recommended by the OECD for evaluating the economic well-being of households. Adjusted disposable income is derived by adding individual services produced by the public sector, such as education, health and social services, to the disposable income of households.

Sector accounts are calculated only at current prices. However, a volume indicator describing the development adjusted for price changes is calculated for households' adjusted disposable income in a separate Appendix table. The profit share, saving rate and investment rate are calculated from net figures, which means that consumption of fixed capital is taken into account. Households do not include non-profit institutions serving households.


Source: Sector accounts, Statistics Finland

Inquiries: Pekka Tamminen 029 551 2460, Juha Martikainen 029 551 3225, kansantalous.suhdanteet@stat.fi

Director in charge: Ville Vertanen

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Updated 20.12.2016

Referencing instructions:

Official Statistics of Finland (OSF): Quarterly sector accounts [e-publication].
ISSN=2243-4992. 3rd quarter 2016. Helsinki: Statistics Finland [referred: 26.4.2019].
Access method: http://www.stat.fi/til/sekn/2016/03/sekn_2016_03_2016-12-20_tie_001_en.html