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Households' saving rate was positive in the third quarter of 2023

Release related to topics:National economy
release | Quarterly sector accounts 2023, 3rd quarter

According to Statistics Finland, households' seasonally adjusted saving rate grew by one percentage point in July to September 2023 from the previous quarter. In July to September, the saving rate was 3.4 per cent. Consumption expenditure remained on level with the previous quarter, while disposable income grew. This increased households' saving. The investment rate of households fell slightly from the previous quarter.

The line chart describes the seasonally adjusted development of four indicators starting from 2010. The profit share of non-financial corporations was around 29 per cent in the first quarter of 2010. The profit share decreased by around 24 per cent in the second quarter of 2012. After this, the profit share has grown steadily and in the third quarter of 2023, the profit share was exactly 29 per cent. In the first quarter of 2010, the investment rate of non-financial corporations was around 28 per cent, after which it has varied between 25 and 30 per cent. In the third quarter of 2023, the investment rate was around 30 per cent. In the first quarter of 2010, households' investment rate was around 12 per cent, from which it has slowly fallen slightly at times and risen slightly at times. In the third quarter of 2023, households' investment rate was 11 per cent. In the first quarter of 2010, households' saving rate was around six per cent, from which it fell below zero per cent during the next few years. Up to 2020, the development was on both sides of zero per cent, until in 2020 when it first rose sharply to nearly 10 per cent. In the third quarter of 2023, the saving rate was 3.4 per cent.

Key selections

  • The seasonally adjusted profit share of non-financial corporations fell slightly from the previous quarter, being 29.0 per cent. Non-financial corporations´ investment rate remained on level with the previous quarter, at 29.8 per cent
  • Seasonally adjusted value added of financial and insurance corporations grew by 4.0 per cent and operating surplus grew by 8.1 per cent compared to the previous quarter
  • The financial position of local government was EUR 3.1 billion in deficit, while in the corresponding quarter of the year before, it showed a deficit of EUR 2.1 billion.
  • Households' adjusted disposable income grew at current prices by 8.5 per cent and adjusted for price changes by 4.1 per cent compared to the quarter last year.
  • Exports of goods and services at current prices contracted by 11.6 per cent and imports by 15.6 per cent from the quarter one year ago.

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Referencing instructions

Quarterly sector accounts [online publication].
Reference period: 2023, 3rd quarter. ISSN=2243-4992. Helsinki: Statistics Finland [Referenced: 16.10.2024].
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