Quarterly non-financial accounts for General Government, households income and savings and non-financial corporation profits - Q1 2025

The Quarterly non-financial General Government (GG) account and the other figures presented in this press release are desumed from the Quarterly non-financial sector accounts. Data on Households and Non-financial corporations are commented in seasonally adjusted form, data on the GG are unadjusted.

In the first quarter of 2025 the GG net borrowing to GDP ratio was -8.5%, compared to -8.2 in the same quarter of 2024.

The GG primary balance to GDP ratio was -4.7%, from -4.8% in the first quarter of 2024.

The GG current balance to GDP ratio  was -3.5% (-3.4% in the first quarter of 2024).

The tax burden ratio was 37.3%, 0.5 percentage points higher than in the same quarter of 2024.

Gross disposable income of consumer households increased by 1.8% with respect to the fourth quarter of 2024 in nominal terms and by 0.9% in real terms (0.9% the increase of the implicit deflator of households final consumption expenditure)

The saving rate was 9.3%, with households’ final consumption expenditure growth at 1.2% in nominal terms.

The profit share of non-financial corporations was 42.1%, 0.2 percentage points lower than in the previous quarter.

The investment rate of non-financial corporations was 22.4%, 0.2 percentage points higher than in the previous quarter.