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 third quarter of 2019 the GG deficit (net borrowing) to GDP ratio was -1.8%, unchanged compared with the same quarter of 2018.

The primary and current balance of the GG were both positive and their ratio to GDP stood respectively at 1.6% and 1.1% (1.9% and 1.2% in the third quarter of 2018).

The tax burden ratio stood at 40.3% of GDP, 0.1 percentage points lower than the same quarter of the previous year.

The gross disposable income of Consumer households in the third quarter of 2019 increased by 0.3% with respect to the previous quarter. Consumption expenditure rose by 0.4%, bringing the gross saving rate at 8.9%, 0.1 percentage points lower than in the previous quarter.

The gross disposable income of Consumer households increased by 0.3% in real terms.

The gross profit share of Non-financial corporations in the third quarter of 2019 was 40.7%, unchanged with respect to the previous quarter.

The gross investment rate of Non-financial corporations in the third quarter of 2019 was 21.4%, 0.1 percentage points higher than in the previous quarter.