Households’ saving rate was close to zero in the second quarter of 2023

Release related to topics:National economy

release 18/09/2023 | Quarterly sector accounts 2023, 2nd quarter

According to Statistics Finland, households' seasonally adjusted saving rate in April to June remained roughly on level with the previous quarter. In April to June, the saving rate was 0.9 per cent. Consumption expenditure, which is directly affected by high inflation, grew in practice almost as much as disposable income. 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 second quarter of 2023, the profit share was around 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 second quarter of 2023, the investment rate was 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 second quarter of 2023, households' investment rate was 13 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 second quarter of 2023, the saving rate was 0.9 per cent.

Key selections

The seasonally adjusted profit share of non-financial corporations fell by -0.4 percentage points from the previous quarter, being 28.7 per cent. Non-financial corporations’ investment rate remained on level with the previous quarter, at 29.6 per cent.
Seasonally adjusted value added of financial and insurance corporations grew by 8.4 per cent and operating surplus grew by 13.8 per cent compared to the previous quarter.
The financial position of general government weakened by EUR 1.7 billion from the quarter twelve months back.
Households' adjusted disposable income grew at current prices by 10.2 per cent and adjusted for price changes by 4.9 per cent compared to the quarter last year.
Exports of goods and services at current prices contracted by 7.8 per cent and imports by 11.9 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.

18/09/2023

Revisions in these Statistics

	1st release (%)	Latest release (%)	Revision (%-points)
Non-financial corporations (S11) profit share	2022Q2	35,6	30,8	-4,7
2022Q3	32,5	29,8	-2,6
2022Q4	31,2	31,3	0,1
2023Q1	29,2	29,1	0,0
Non-financial corporations (S11) investment rate	2022Q2	26,0	29,3	3,3
2022Q3	26,6	29,6	3,0
2022Q4	29,8	29,3	-0,4
2023Q1	29,3	29,5	0,1
Household (S14) saving rate	2022Q2	-2,5	-2,1	0,4
2022Q3	-3,5	-1,5	2,0
2022Q4	-3,5	-1,1	2,4
2023Q1	-1,8	0,7	2,5
Household (S14) investment rate	2022Q2	14,8	14,0	-0,8
2022Q3	15,6	13,9	-1,7
2022Q4	14,5	13,4	-1,0
2023Q1	13,1	13,0	-0,1