The EU household saving rate continued with a large year-over-year increase in the fourth quarter of 2020, climbing 6.6 percentage points (pp) higher than it was one year ago, according to figure published today by Eurostat, the statistical service of the EU.
According to Eurostat, the main reason for the year-on-year increase is that household final consumption expenditure was 7.0% lower in the EU than it was one year ago. Household gross disposable income was 0.6% higher in the fourth quarter of 2020 (compared with the fourth quarter of 2019).
In all but one of the Member States for which data are available for the fourth quarter of 2020 the household saving rate was higher than it was one year ago. The highest year-on-year increase was observed for Slovenia (+20.8 pp), followed by Ireland (+12.8 pp), Belgium (+11.3 pp), Austria (+10.9 pp) and Greece (+10
Source: Cyprus News Agency