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211659
Continued income growth in the household sector
statistikk
2015-02-12T10:00:00.000Z
National accounts and business cycles
en
knri, National accounts, non-financial sector 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
false
Disposable income in the household sector increased 1 per cent from the 3rd to the 4th quarter of 2014.

National accounts, non-financial sector accounts, Q4 2014

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Continued income growth in the household sector

Disposable income in the household sector increased 1 per cent from the 3rd to the 4th quarter of 2014 according to seasonally-adjusted figures. Compensation of employees made the largest contribution to the increase in disposable income.

Some selected national account figures. Seasonally adjusted. NOK millionPublished 12 February 2015
1st quarter 20142nd quarter 20143rd quarter 20144th quarter 2014
Compensation of employees349 260354 320354 791357 171
Disposable income324 196329 248331 702335 031
Total consumption317 809321 188323 645328 009
Saving, net27 25729 48430 25529 906
Savings ratio (per cent)7.98.48.68.4
Real disposable income, growth1.11.30.10.5

Source: Statistics Norway

Compensation of employees was up 0.7 per cent in the 4th quarter of 2014. Payments and benefits from general government remained unchanged. Property income received, which mainly consists of income from interest and dividends, went up by 3.4 per cent, while property income paid decreased by 3.4 per cent in the last quarter of 2014. This led to a disposable income of NOK 335 billion. 

Real disposable income grew by 0.5 per cent compared to the 3rd quarter.

Consumption expenditure increased by 1.3 per cent to NOK 328 billion in the 4th quarter. Households saving is calculated to approximately NOK 30 billion, which corresponds to a saving ratio of 8.4 per cent.

Income growth through 2014

Household disposable income is calculated to NOK 1 320 billion in 2014; 5 per cent higher compared to 2013. Saving increased to NOK 117 billion, which corresponds to a saving of NOK 22 700 per capita. In 2013, the figure was NOK 19 000.

Real disposable income grew 2.5 per cent through 2014. This equals a growth in real disposable income per capita of 1.4 per cent.