Quarterly non-financial sector accounts

The Quarterly non-financial General Government (GG) account and the other figures presented in this press release are part of 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 2019 the GG deficit (net borrowing) to GDP ratio was 1%, with a small improvement compared to the same quarter of 2018 (4.2%).

The current and the primary balance of the GG were both negative and their ratio to GDP stood respectively at 6% and 1.3% (-1.5% and -0.9% in the first quarter of 2018).

The tax burden ratio stood at 38.0% of GDP, 0.3 percentage points higher than in the same quarter of the previous year.

Gross disposable income of Consumer households increased by 0.9% with respect to the previous quarter both in nominal and in real terms.

Final consumption expenditure of Consumer households grew by 0.2%, with saving rate raising at 8.4%, 0.7 percentage points higher than in the previous quarter.

The profit share of Non-financial corporations was 7%, 0.6 percentage points lower than in the previous quarter.

The investment rate of Non-financial corporations was 21.1%, 0.4 percentage points lower than in the previous quarter.