According to seasonally adjusted data, the aggregate of households' cash and non-cash income rose by 0.3 % in real terms compared with the previous quarter.Real per capita consumption rose by 0.7 % quarter-on-quarter and the savings rate fell by 0.1 percentage point. The investment rate of non-financial corporations rose by 0.2 percentage point from the previous quarter.
Non-financial corporations: profit rate down quarter-on-quarter
Profit rate in Q3 was 45.9 %, 0.5 percentage point (p.p.) lower than in the previous quarter and 0.7 p.p. lower than a year ago. Total wage costs of non-financial corporations increased by 6.7 % yoy. Investment rate fell quarter-on-quarter by 0.2 percentage point to 26.6 %. It decreased by 1.5 pp yoy.
Housewives: incomes and consumption have risen
"In the third quarter of this year, household spending rose by 3.3 % year-on-year, and household income rose by 2.5 %,"said the Director of the National Accounts Department of the CZSO Vladimir Kermiet.
Summary real cash and non-cash household income per capita in Q3 compared to the previous quarter increased by 0.3 %, year-on-year it increased by 2.5 %.
Real household consumption per capita increased quarter-on-quarter by 0.7 % and year-on-year by 3.3 %.
Average monthly income from employment reached CZK 48,116 in the third quarter. Compared to the previous quarter, it increased by 1.3 % in real terms and by 3.5 % year-on-year.
Household savings rate in Q3 was 18.8 %, 0.1 p.p. lower than in the previous quarter and 0.7 p.p. lower than a year ago.
Investment rate in the household sector stagnated quarter-on-quarter and reached 11.1 %. Year-on-year, the household investment rate increased by 0.1 percentage point.
Refinement of the GDP estimate
At the same time, the estimate of gross domestic product (GDP) has been refined. GDP in Q3 2024 rose by 0.5 % quarter-on-quarter and by 1.4 % year-on-year. The time series on GDP production and use can be found on the website: https://csu.gov.cz/produkty/hdp_cr
CSO/ gnews.cz - RoZ
ILLUSTRATIVE PHOTO - pixabay
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