October 30, 2020

Households shoot their savings up to 19.3% in the second quarter – La Provincia


TheSpanish households spent less than they entered in the second quarter,which led to its savings rate being 19.3%, its highest value in ten years, as reported on Monday by the National Institute of Statistics (INE).

Thehousehold savings rateIt returns to positive rates after having placed in negative rates in the first quarter of the year. The second quarter is the highest rate since the second quarter of 2009, when it reached 20.1%.

Households increased their gross disposable income by 5.8%in the second quarter, up to 218,205 million euros, but its consumption expenditure was below this amount, at 175,935 million euros, 2.1% more, so that its savings were positive.

Specific,Household savings stood at 41,984 million euros, compared to 33,513 million euros in the second quarter of 2018.

Eliminating seasonal and calendar effects, the household savings rate stood at 8.7% in the second quarter, two points higher than in the previous quarter, its highest value since the second quarter of 2013.

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