Quarterly non-financial sector accounts

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 2021 the GG net borrowing to Gdp ratio was 13.1% (10.6% in the same quarter of 2020).

The GG primary balance was negative, its ratio to GDP standing at -9.7% (-7.5% in the first quarter of 2020).

The GG current balance was also negative, with a Gdp ratio of -8.6% (-7.3% in the same period of 2020).

The tax burden ratio stood at 37.9% of Gdp, 0.1 percentage points higher than the same quarter of 2020.

Gross disposable income of consumer households increased by 1.5% with respect to the previous quarter, while final consumption expenditure decreased by 0.6%. As a consequence, the saving rate was 17.1%, 1.8 percentage points higher than in the last quarter of 2020.

In real terms, gross disposalble income of consumer households increased by 0.9%.

The profit share of non-financial corporations was 42.6%, 0.8 percentage points lower than in the previous quarter.

The investment rate of non-financial corporations was 22.3%, showing an increase of 0.7 percentage points with respect to the previous quarter.