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/en/nasjonalregnskap-og-konjunkturer/statistikker/knri/arkiv
10204
Increase in real disposable income
statistikk
2009-02-19T10:00:00.000Z
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

National accounts, non-financial sector accounts, Q4 2008

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Increase in real disposable income

Households’ and NPISHs’ disposable real income showed a 3.2 per cent rise in 2008. The growth is mainly due to an increase in compensations of employees.

Households Real Disposable Income, seasonally adjusted, percentage change from previous period Q1 2002-Q4 2008

Savings ratio, seasonally adjusted Q1 2002-Q4 2008

Seasonal adjusted figures show a 3.2 per cent increase in disposable income from the 3rd to the 4th quarter of 2008. The increase in the households’ and the non-profit institutions serving households’ (NPISHs’) disposable income is due to the increase in both wages and salaries and property income received, while mixed income show a decline in the 3rd and the 4th quarter. Real disposable income grew by 1.7 per cent from the 3rd quarter to the 4th quarter.

Pensions and social contributions make approximately one third of disposable income, and indicated a 2.4 per cent increase in the 4th quarter. Pensions’ and social contributions’ annual growth rate was 6.8 per cent from 2007 to 2008.

Seasonal adjusted figures show a 1.1 per cent increase in the compensation of the employees compared to the previous quarter. Households’ property income was 3.6 per cent higher in the 4th quarter compared to the previous quarter.

Net interest paid as a ratio of disposable income has fluctuated for the present years as a consequence of the development in financial markets. For 2004 and 2005 the ratio is estimated to 4.9 and 4.5 per cent. Since 2005, both interest rates and households’ borrowing have increased gradually. For the 3rd and 4th quarter of 2008 the ratio is estimated to 8.0 and 8.4 per cent.

Net interests paid as a ratio of disposable income - seasonally adjusted Q1 2002-Q4 2008

Savings - defined as disposable income minus final consumption expenditure and corrected - recorded NOK 2.7 billions in the 4th quarter of 2008 and NOK 21 billions for 2008 as a whole. The household saving ratio was low in the 1st quarter, but has increased gradually the following quarters. Household savings ratio was thus 4.5 per cent in the 4th quarter of 2008, compared to 2.3 per cent in the 2nd quarter.

Statistics Norway will be publishing seasonal adjusted series starting with the 3rd quarter 2008. Check the left margin for more information on seasonal adjustment.
Disposable income and savings ratio for households and NPISHs, seasonally adjusted, change from previous period
 
  Disposable income Disposable income Household saving ratio
 
2006      
1st quarter -8.5 -8.4 1.2
2nd quarter 0.6 -0.9 -0.7
3rd quarter 2.3 2.1 0.4
4th quarter 1.2 0.4 -0.3
2007      
1st quarter 2.1 3.3 0.4
2nd quarter 1.4 0.5 0.6
3rd quarter 1.0 1.3 0.5
4th quarter 2.3 1.0 -0.1
2008      
1st quarter 1.1 -0.1 -0.2
2nd quarter 2.0 1.1 1.4
3rd quarter 1.8 0.7 2.3
4th quarter 3.2 1.7 4.5
 

Revisions in the 2008 figures

Quarterly institutional sector accounts are based on preliminary calculations. The uncertainty is greater in the last quarter. New information is continuously integrated in the figures, which might cause revisions in the previously released data. Quarterly sector accounts are consolidated against the data from the quarterly national accounts data as well. When the last quarters of the unadjusted series are updated, seasonally adjusted series might be revised backwards as well.

 

The unadjusted figures for disposable income are revised by 1.9 per cent in the 3rd quarter, while the seasonal adjusted figures are revised by 1.3 per cent.

 

Tables

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