July 30, 2022
In the first quarter of 2022, household real consumption per capita decreased by 0.6% in the euro area, after decreasing by 0.9% in the previous quarter. Household real income per capita decreased in the first quarter of 2022 by 0.5%, after a decrease of 0.7% in the fourth quarter of 2021.
In the EU, household real consumption per capita decreased by 0.8% in the first quarter of 2022, after a decrease of the same magnitude in the previous quarter. At the same time, household real income per capita decreased by 0.6% in the first quarter of 2022, after another decrease of 0.6% in the fourth quarter of 2021.
Components of household gross disposable income
During the first quarter of 2022, household gross disposable income (in nominal terms, seasonally adjusted) increased by 1.8% in the euro area and by 1.7% in the EU. That increase is fundamentally explained by the large positive contribution of compensation of employees.
Household saving rate slightly increased in the euro area and the EU
In the first quarter of 2022, the saving rate increased by 0.1 percentage points (pp) in the euro area, and by 0.2 pp in the EU, compared with the previous quarter.
The household saving rate increased in seven out of fourteen Member States for which data for the first quarter of 2022 are published. The highest increases were observed in Denmark (+5.1 pp) and Belgium (+2.9 pp). At the same time, it decreased in seven Member States. Austria (-5.2 pp) had the largest decrease.
Household investment rate increases in the euro area and the EU
In the first quarter of 2022, the investment rate of households increased by 0.5 pp in the euro area and the EU. Among the Member States for which data are published, the household investment rate increased in eight Member States, remained stable in three and decreased in another three. Germany (+0.8 pp) and Denmark (+0.7 pp) had the largest increases due to their large growth of household gross fixed capital formation (+8.2% and +13.7% respectively). In Poland, Hungary and Belgium the household investment rate decreased, due to household gross fixed capital formation growing at a slower rate than household gross disposable income.
Source: Eurostat
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither Karen Audit nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
