Quarterly non-financial sector accounts - Q2 2022

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 second quarter of 2022 the GG deficit (net borrowing) to GDP ratio was -3.1%, with an improvement compared to the same quarter of 2021 (-7.6%).

The current and the primary balance of the GG were both positive and their ratio to GDP stood respectively at 0.8% and 1.6% (they were -0.7% and -3.7% in the second quarter of 2021, respectively).

The tax burden ratio stood at 42.4% of GDP, 0.3 percentage points higher than the same quarter of the previous year.

Gross disposable income of Consumer households increased by 1.5% with respect to the previous quarter, while final consumption expenditure grew by 4.1% in nominal terms.

The gross saving rate was 9.3%, 2.3 percentage points lower than in the previous quarter.

Gross disposalble income of Consumer households decreased by 0.1% in real terms.

The profit share of Non-financial corporations was stable (39.6%).

The investment rate of Non-financial corporations was 25.0%, 0.5 percentage points higher than in the previous quarter.