Quarterly non-financial accounts for General Government, households income and savings and non-financial corporation profits - Q4 2025

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.

The Quarterly non-financial GG account is consistent with the annual account transmitted to Eurostat on March 31 within the Notification process in application of the Excessive Deficit Procedure (EDP). The latter presents small revisions for year 2025 with respect to that published on March 2.

In the fourth quarter of 2025 the GG records a net lending over GDP at 1.4% (0.6% in the fourth quarter of 2024).

The primary balance of the GG was positive, at 5.1% over GDP (4.4% in the fourth quarter of 2024).

The current balance of the GG was positive, at 6.9% over GDP (6.1% % in the fourth quarter of 2024).

The tax burden was 51.4%, 0.8 percentage points higher than in the fourth quarter of 2024.

Households’ gross disposable income decreased by 0.4% over the previous quarter in nominal terms, whereas their final consumption expenditure grew by 0.5%.

Households’ saving rate was 7.8%, 0.8 percentage points lower than in the third quarter of 2025.

Households’ real gross disposable income decreased by 0.8% with respect to the previous quarter.

The profit share of non-financial corporations increased by 0.2 percentage points at 43.2%.

The investment rate of non-financial corporations was at 24.6%, 0.2 percentage points lower than in the previous quarter.