Household saving rate saw a slight increase in the EU in Q4 2024

The household saving rate saw a 0.1 percentage point increase in the European Union in the fourth quarter of 2024, compared to the previous quarter, new data from Eurostat has found.

In the euro area specifically, the household saving rate declined by 0.1 percentage points.

Among the countries for which data is available, Portugal saw the biggest increase in household saving rate in the quarter, up 2.1 percentage points, followed by Finland (+1.5 percentage points) and Denmark (+1.0 percentage points).

The largest decrease, again among countries for which data is available, was recorded in Belgium (-2.0 percentage points) and Greece (-1.3 percentage points).

Household consumption per capita

According to the Eurostat data, household real consumption per capita increased by 0.4% in both the euro area and the EU in the fourth quarter of last year, on a quarter-on-quarter basis.

Elsewhere, household real income per capita rose by 0.3% in the euro area and 0.6% in the EU, on a par with the figures reported in the previous quarter.

The data also showed that household gross disposable income, measured in nominal terms, grew by 0.9% in the euro area and by 1.3% in the EU, which was driven by increased employee compensation.

The household savings rate stood at 15.2% in the euro area, and 14.5% in the EU, in Q4 2024.

Throughout 2024, the euro area saw a gradual decline in the household investment rate and a slight increase in the saving rate. Real growth of adjusted gross disposable income per capita remained positive across quarters, while real consumption per capita showed more moderate gains. Read more here.