In the third quarter of 2011, the gross saving rate of households was 10.9% in the EU27, compared with 11.7% in the second quarter of 2011. In the euro area, the household saving rate was 13.3% in the third quarter of 2011 compared with 13.7% in the previous quarter.
Household real disposable income down in the euro area
In the euro area, the drop in the household saving rate was due to a decrease in real gross disposable income (-0.4%), while real final consumption expenditure recorded a small increase (+0.1%). Real income fell due to a decrease in nominal income (-0.1%) while prices rose (+0.4%).
The slight decrease in household nominal disposable income (-0.1%) was the result of the negative contributions of net social benefits (-0.2 percentage point), taxes (-0.2 pp), and gross operating surplus / mixed income (-0.1 pp), while compensation of employees and net property income contributed positively (+0.3 pp and +0.2 pp respectively).
Household investment rate remained at low levels in both zones
In the EU27, the gross investment rate of households was 8.5% in the third quarter of 2011 compared with 8.4% in the previous quarter. In the euro area, the household investment rate was unchanged at 9.1% in the third quarter of 2011.
In the euro area, household investment (gross fixed capital formation, mostly in dwellings) grew (+0.9%) while disposable income fell slightly (-0.1%).
