Continued high saving for households
Disposable income in the household sector increased 1.4 per cent from the 4th quarter of 2013 to the 1st quarter of 2014, according to seasonally-adjusted figures.
Compensation of employees was up 1 per cent from the 4th quarter of 2013 to the 1st quarter of 2014. Payments and benefits from general government increased by 2 per cent in the same period. Property income received, which mainly consists of income from interest and dividends, went up by 0.7 per cent, while property income paid increased by 2 per cent in the 1st quarter of 2014.
Households’ saving is calculated to approximately NOK 32 billion in the 1st quarter of 2014. With disposable income amounting to slightly less than NOK 338 billion, households’ saving ratio was 9.4 per cent in the same quarter.
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 cause 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.
New revised figures for national accounts and related statistics will be published in November and December 2014. Statistics Norway complies with international guidelines in its preparation of national accounts and statistics on foreign affairs. New international guidelines have now been issued for these statistics. Statistics Norway is currently in the process of implementing the changes, in addition to new source data for some of the statistics.