The indicators presented in this release are derived from quarterly national accounts by institutional sector (QSA), which allow a timely analysis of the evolution of the main variables of the income accounts of Consumer Households and Non-financial Corporations. Time series for total Households (including Producers Households and Non Profit Institutions Serving Households (NPISHs)) are provided in Annex, as well. The indicators are presented in seasonally adjusted form.
In the third quarter of 2014 the gross Consumer Households saving rate (defined as gross saving divided by gross disposable income, with the latter being adjusted for the change in the net equity of households in pension funds reserves) was 10.8%, compared with 9.9% in the third quarter of 2013 and 9.2% in the previous quarter.
Gross disposable income of Consumer Households increased by 1.8% with respect to the previous quarter whereas final consumption expenditure held steady compared with the previous quarter. Compared with the third quarter of 2013 gross disposable income of households grew by 1.4% and final consumption expenditure increased by 0.4%. Gross disposable income of Consumer Households in real terms increased by 1.9% compared with the previous quarter and by 1.5% compared with the third quarter of 2013.
In the third quarter of 2014, the gross investment rate of Consumer Households (defined as gross fixed capital formation divided by gross disposable income) was 6%, compared with 6.4% in the third quarter of 2013 and 6.2% in the previous quarter. Gross fixed capital formation (GFCF) of Consumer Households declined by 0.6% compared with the previous quarter.