Households’ saving rate was close to zero in the first quarter of 2024

Release related to topics:National economy

release 19/06/2024 | Quarterly sector accounts 2024, 1st quarter

According to Statistics Finland, households' seasonally adjusted saving rate grew by half a percentage point in January to March from the previous quarter. In January to March, the saving rate was 0.1 per cent. Disposable income grew slightly more than consumption expenditure, and in practice, households consumed as much as they earned. 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, after which it grew steadily, and it was around 27 per cent in the first quarter of 2024.
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 first quarter of 2024, the investment rate was around 28 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 first quarter of 2024 the investemnt rate was 10 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 0 per cent, until in 2020 when it first rose sharply to nearly 10 per cent, and in 2024 it was close to zero in the first quarter.

Key selections

The seasonally adjusted investment rate of non-financial corporations fell from the previous quarter by one percentage point. The profit share of non-financial corporations remained unchanged.
Seasonally adjusted value added of financial and insurance corporations fell by 3.9 per cent and their operating surplus declined by 6.6 per cent compared to the previous quarter.
The financial position of local government was EUR 2.1 billion in deficit, while in the corresponding quarter of the year before, it showed a deficit of EUR 0.8 billion.
Households' adjusted disposable income grew at current prices by 1,7 per cent and adjusted for price changes by 0,2 per cent compared to the quarter last year.
Exports of goods and services at current prices contracted by 12.4 per cent and imports by 6.8 per cent from the quarter one year ago.

Statistics used in the release

Quarterly sector accounts

Data revisions

See key statistical data in the tables.

19/06/2024

Revisions in these Statistics

	1st release (%)	Latest release (%)	Revision (%-points)
Non-financial corporations (S11) profit share	2023Q1	29,2	27,1	-2,1
2023Q2	28,7	27,2	-1,6
2023Q3	29,0	26,7	-2,3
2023Q4	28,9	27,1	-1,7
Non-financial corporations (S11) investment rate	2023Q1	29,3	29,0	-0,3
2023Q2	29,6	28,6	-1,0
2023Q3	29,8	28,5	-1,3
2023Q4	29,3	28,5	-0,8
Household (S14) saving rate	2023Q1	-1,8	-1,7	0,2
2023Q2	0,9	-1,7	-2,6
2023Q3	3,4	-1,2	-4,5
2023Q4	0,6	-0,4	-1,0
Household (S14) investment rate	2023Q1	13,1	12,5	-0,6
2023Q2	12,8	11,9	-0,9
2023Q3	11,8	11,0	-0,7
2023Q4	11,6	10,5	-1,1