Increased income and consumption
National accounts and business cycles
knri, Quarterly non-financial sector accounts, national accounts, households, non-profit organisations, disposable income, disposable real income, saving rate, income, expenditures, savings, FISIM, net financial investments, dividendsNational accounts , National accounts and business cycles

Quarterly non-financial sector accounts, national accountsQ2 2015



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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.

Some selected national account figures. Seasonally adjusted. NOK million
3rd quarter 20144th quarter 20141st quarter 20152nd quarter 2015
Corrected 28 August 2015.
Compensation of employees355 385359 008363 321366 879
Disposable income331 873335 451345 879348 522
Total consumption323 335327 784334 006337 187
Saving, net30 66130 51834 03334 153
Savings ratio (per cent)
Real disposable income, growth-

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.

Disposable income increased by NOK 2.6 billion to just under NOK 348.5 billion in the 2nd quarter. Real disposable income decreased by 0.1 per cent.

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.

RevisionsOpen and readClose

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.

Main revision of the national accountsOpen and readClose

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.