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224685
Reduced savings in households
statistikk
2015-05-22T10:00:00.000Z
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
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Disposable income in the household sector increased 1.1 per cent in the first quarter of 2015.

National accounts, non-financial sector accounts, Q1 2015

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Reduced savings in households

Disposable income in the household sector increased 1.1 per cent in the 1st quarter of 2015 according to seasonally-adjusted figures.

Some selected national account figures. Seasonally adjusted. NOK millionPublished 22 May 2015
2nd quarter 20143rd quarter 20144th quarter 20141st quarter 2015
Compensation of employees354 360355 309358 910362 752
Disposable income329 749331 829337 200340 778
Total consumption320 917323 523327 423332 456
Saving, net30 27430 42632 62830 613
Savings ratio (per cent)8.68.69.18.4
Real disposable income, growth2.00.01.30.8

Source: Statistics Norway

Compensation of employees was up 1.1 per cent in the 1st quarter. Payments and benefits from general government increased by 3.9 per cent to approximately NOK 112 billion. Property income received and paid decreased compared to the last quarter of 2014.

Disposable income amounted to NOK 341 billion, which is around NOK 3.5 billion more than the previous quarter. Real disposable income grew by 0.8 per cent.

Consumption expenditure increased by 1.5 per cent from the 4th quarter of 2014. A stronger increase in consumption expenditure than disposable income and adjustment for households’ pension funds led to reduced savings in the 1st quarter of 2015. The savings ratio is calculated to 8.4.

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.