Increased income and consumption
According to seasonally-adjusted figures, disposable income in the household sector increased 0.8 per cent in the 2nd quarter of 2015.
|3rd quarter 2014||4th quarter 2014||1st quarter 2015||2nd quarter 2015|
|Corrected 28 August 2015.|
|Compensation of employees||355 385||359 008||363 321||366 879|
|Disposable income||331 873||335 451||345 879||348 522|
|Total consumption||323 335||327 784||334 006||337 187|
|Saving, net||30 661||30 518||34 033||34 153|
|Savings ratio (per cent)||8.7||8.5||9.3||9.2|
|Real disposable income, growth||-0.2||0.6||2.6||-0.1|
Compensation of employees was up 1 per cent, approximately NOK 3.6 billion in the 2nd quarter. Payments and benefits from general government increased by NOK 1.7 billion, while property income received and paid remained unchanged from the 1st quarter of 2015.
Consumption expenditure increased more than disposable income, but higher adjustment for households’ pension funds led to savings equal to the 1st quarter of 2015. The savings ratio is calculated to 9.2 per cent.
Quarterly sector accounts are based on preliminary calculations. The uncertainty in the last quarter is the largest. New information is continuously being integrated into the figures, which could lead to revisions in the previously released data. Quarterly sector accounts are also consolidated against the data from the quarterly national accounts data. When the last quarters of the unadjusted series are updated, seasonally-adjusted series may also be revised backwards.
Statistics Norway has made a main revision to the national accounts. The first results from this revision were published on 20 November 2014. The revisions are partly due to new international recommendations on national accounting and partly the result of improved methods of estimations and new sources.