Households’ saving rate positive in the second quarter of 2026

Households’ saving rate still positive

Households’ seasonally adjusted saving rate was four per cent in the second quarter of 2026. Households’ saving rate has been on a high level starting from 2024, even though the saving rate decreased from the first quarter. Households’ saving describes households on average and conceals the differences between them.

The prolonged decline in the indebtedness ratio seems to have evened out. In the second quarter, households’ indebtedness ratio was 108 per cent, on the same level as in the first quarter. The indebtedness ratio is clearly on a lower level than in the peak year 2022. Such a long decline in the indebtedness ratio is exceptional.

Private sector net lending is clearly positive, that is, domestic non-financial corporations, financial and insurance corporations and households contribute to the financing of the deficit in the public sector.

Current account remained in surplus

The current account remained in surplus in the second quarter. Concerning the current account, a positive turn was seen in mid-2024, after which the current account has mainly been in surplus. This is due to, for example, positive development in exports. Exports rose to a record level in the second quarter, but it was due to a cruise ship delivery.

Concerning gross domestic product, the cruise ship delivery does not have the same effect on one specific quarter, as value added related to the ship building has been recorded in previous quarters, too. From the perspective of total demand, the growth in exports was balanced by the decreased change in inventories due to the ship delivery.

Value added in manufacturing increasing

Gross domestic product grew by 0.3 per cent in the second quarter. The figure was slightly revised from the August release (0.4% in August). The first-quarter data were revised to 0.7 per cent quarter-on-quarter, compared with 0.8 per cent in the August release.

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The growth in value added of the whole economy has continued in the first half of 2026. The growth in GDP in the second quarter was mainly driven by the strong development in industrial output, which started already at the end of 2025. Growth in manufacturing continued. Development by industry is described in more detail in the release at the end of August.

Public investments decreased in the second quarter of 2026, because no deliveries of fighter aircraft were recorded in this quarter. This also impacts GDP, since investments in fighter aircraft have an increasing effect on GDP through value added tax.

Deficit in the public sector remained high

General government deficit was EUR 0.6 billion in the second quarter of 2026. Due to seasonal variation (e.g. dividends), general government deficit is typically at its lowest in the second quarter. However, the four-month moving total of the deficit was still EUR 11 billion, so measured in this way, the deficit remained on level with the previous quarters.

Employment pension schemes continued reducing direct real estate investments, which was seen as negative investments in the employment pension sector. This lessened general government deficit.

More detailed information on general government quarterly sector accounts can be found in the statistics on general government revenue and expenditure by quarter.

Revision of national accounts data

The data on national accounts were revised in September, both in terms of quarterly and annual data. This section describes the revision of quarterly data first and then the revision of annual data.

GDP growth in the second quarter of 2026 was revised to 0.3 per cent from the previous quarter (previously 0.4%). Value added was revised most in service industries, especially in the financial and insurance sector. The first-quarter data were revised to 0.7 per cent quarter-on-quarter, compared with 0.8 per cent.

The current account in the first quarter of 2026 was revised to EUR -2.7 billion in deficit (previously EUR 0.2 billion in surplus). The revision is primarily based on a correction of the temporal allocation of dividends, which revised the allocation of property income paid from Finland to the rest of the world between the first and second quarters.

According to Statistics Finland's preliminary data, the volume of gross domestic product increased by 0.8 per cent in 2025 (0.8% also in the previous preliminary data). In September, more detailed data on the rest of the world sector were received, as a result of which the current account deficit was revised.

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The household final consumption expenditure calculations were revised slightly in September. The change has no impact on the total level of private consumption. The time series for division 01, Food and non-alcoholic beverages, was revised to correspond to the scanner data using the same classification. The changes mainly concern the most detailed subcategories of the classification. In addition, the allocation of certain transport expenditure items between parking services and car rental was revised. The household consumption expenditure time series based on the COICOP 2018 classification was published in September 2025.

The volume of gross domestic product for 2022 to 2024 was also slightly revised in the September round. The recording practices of international trade and value added were reassessed related to EU cooperation as regards a few single items, and this also impacted gross domestic product. The table Revisions in these statistics (Annual national accounts) shows the revisions of gross domestic product starting from 2014.

The current account surplus in 2025 was revised downwards in September to EUR 2.9 billion (previously EUR 4.2 billion). The revision is primarily based on completed data of the annual inquiry on foreign financial assets and liabilities, as a result of which data on property income and expenditure were revised.

National Accounts' table package

The table package combining national accounts data is available in PDF/A format in Finnish and English. The annual table package is updated in connection with each annual national accounts release.