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

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 2024 the GG net borrowing to GDP ratio was -8.8%, compared to -11.6 a year before.

The GG primary balance to GDP ratio was -5.3%, from -8.5% in the first quarter of 2023.

The GG current balance to GDP ratio  was -4.1% (-5.2% in the first quarter of 2023).

The tax burden ratio was 37.1%, 0.8 percentage points higher than in the same quarter of 2023.

Gross disposable income of consumer households increased with respect to the fourth quarter of 2023 by +3.5% in nominal terms and by +3.3% in real terms (+0.2% the increase of the implicit deflator of households consumption expenditure).

The saving rate was 9.5%, with households consumption expenditure growth at +0.5% in nominal terms.

The profit share of non-financial corporations was 42.7%, 1.6 percentage points lower than in the previous quarter.

The investment rate of non-financial corporations was 20.5%, 0.4 percentage points higher than in the previous quarter.