Households’ saving rate fell in the fourth quarter of 2022

Release related to topics:National economy

release 15/03/2023 | Quarterly sector accounts 2022, 4th quarter

According to Statistics Finland,households’ seasonally adjusted saving rate fell slightly in October to December from the previous quarter. In October to December, the saving rate was -3.5 per cent. Consumption expenditure, which is directly affected by high inflation, grew in relative terms more than disposable income. Households’ investment rate remained roughly on level with 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 32 per cent in the last quarter of 2022.

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 fourth quarter of 2022, the investment rate was 30 per cent.

Households' investment rate in the first quarter of 2010 was some 12 per cent, from which it has slowly risen to 14.5 per cent in the fourth quarter of 2022.

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 fourth quarter of 2022, the saving rate was -3.5 per cent.

Key selections

The profit share of the non-financial corporations sector grew from the previous quarter and stood at 31.2 per cent. The investment rate of the non-financial corporations sector grew slightly from the previous quarter's level, being 29.8 per cent.
Seasonally adjusted value added of financial and insurance corporations grew by 1.5 per cent and operating surplus increased by 2.1 per cent compared with the previous quarter.
The difference between revenue and expenditure, that is, the deficit of general government was EUR 0.5 billion.
Households' adjusted disposable income grew at current prices by 3.4 per cent and adjusted for price changes it diminished by –2.0 per cent compared to the quarter one year ago.
The current account was slightly in deficit in the last quarter of 2022.

Statistics used in the release

Quarterly sector accounts

Data revisions

See key statistical data in the tables.

15/03/2023

Revisions in these Statistics

	1st release (%)	Latest release (%)	Revision (%-yks)
Household (S14) investment rate	2022Q1	15,3	14,6	-0,7
2022Q2	14,8	14,4	-0,3
2022Q3	15,6	14,8	-0,7
Household (S14) saving rate	2022Q1	1,6	1,7	0,1
2022Q2	-2,5	-2,1	0,4
2022Q3	-3,5	-3,2	0,3
Non-financial corporations (S11) investment rate	2022Q1	26,7	28,2	1,5
2022Q2	26,0	29,5	3,5
2022Q3	26,6	29,5	2,9
Non-financial corporations (S11) profit share	2022Q1	31,2	29,2	-1,9
2022Q2	35,6	30,5	-5,1
2022Q3	32,5	29,4	-3,1