Quarterly non financial sector accounts

Data presented in this press release are derived from Quarterly non-financial accounts by institutional sector (QSA), that include Quarterly non-financial General government account. QSA are estimated at current prices and expressed in millions of euro. Data for Consumer households and Non-financial corporations are presented in seasonally adjusted form. Data for the General government are not seasonally adjusted.

General government account

In the first quarter of 2016 total expenditures and total revenues for General government grew respectively by 0.4% and 1.2% compared with the first quarter of the previous year. The increase of total expenditures results from an increase of 0.7% in current expenditures and a fall by 4.1% in total capital expenditures. The increase in total revenues is mainly due to the growth of current taxes on income and wealth, taxes on production and imports and social contributions.

The General government deficit (net borrowing) to GDP ratio was 4.7% in the first quarter of 2016, compared with the 5.2% in the first quarter of 2015.

Consumer households

In the first quarter of 2016 gross disposable income of Consumer households increased by 0.8% with respect to the previous quarter and final consumption expenditure remained unchanged. Compared with the first quarter of 2015 gross disposable income of Consumer households raised by 2.3% and final consumption expenditure by 1.6%. Gross disposable income of Consumer households in real terms increased by 1.1% compared with the previous quarter, and by 2.3% compared with the first quarter of 2015.

Non-financial corporations

Gross profit share of Non-financial corporations (defined as gross operating surplus divided by gross value added) was 40.8% in the first quarter of 2016, compared to 40.7% in the previous quarter and 40.3% in the first quarter of 2015.
Gross investment rate of Non-financial corporations (defined as gross fixed capital formation divided by gross value added) was 18.3 in the first quarter of 2016%, compared with 18.3% in the previous quarter and with 18.5% in the first quarter of 2015.