In the third quarter of 2008, the annual growth rate of net disposable income in the euro area equalled 2.5%, compared with 3.2% in the second quarter of 2008. The annual growth rate of consumption was 4.2% in the third quarter, which was slightly lower than in the second quarter (4.4%). In the third quarter the annual growth rate of net saving declined to -14.1%, from -7.8% in the previous quarter. The annual growth rate of gross fixed capital formation decreased to 2.8% in the third quarter of 2008, from 4.7% in the previous quarter.