In the second quarter of 2011, the gross saving rate of households was 12.6% in the EU27, compared with 11.9% in the first quarter of 2011. In the euro area, the household saving rate was 13.9% in the second quarter of 2011 compared with 13.6% in the previous quarter.
Household real disposable income up in the euro area
In the euro area, the higher household saving rate was due to real gross disposable income increasing more (+0.5%) than real final consumption expenditure (+0.1%). Real income grew due to nominal income increasing at a higher pace (+1.1%) than prices (+0.6%).
The increase in household nominal disposable income (+1.1%) was mainly due to compensation of employees (wages and social contributions) which accounted for +0.6 percentage points (pp). Net property income, gross operating surplus / mixed income (of self-entrepreneurs) and taxes each contributed +0.2 pp.
Household investment rate remained at low levels in both zones
In the EU27, the gross investment rate of households was unchanged at 8.1% in the second quarter of 2011. In the euro area, the household investment rate was 8.7% in the second quarter of 2011, compared with 8.8% in the previous quarter.
In the euro area, the slight decrease in the household investment rate was due to investment (gross fixed capital formation, mostly in dwellings) remaining static (+0.0%) while disposable income grew (+1.1%).
