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MNI BRIEF: EZ Household Savings Rate Eased in Q3

London (MNI)

The household savings rate in the Eurozone declined by 7.3pt to 17.3% in Q3 2020, down from the 24.6% seen in the second quarter. However, Q3's reading is still the second largest since the series began in 1999. The savings rate is 4.4pp higher than a year ago. The decrease was driven by a sharp recovery of individual consumption expenditure (+13.9%) as economies reopened through the summer months, while household's gross disposable income increased at a slower pace (+3.9%).

The business investment rate was largely stable at 23.3% in Q3, compared to Q2's 23.2%. Eurostat noted that "peaks of the investment rate of non-financial corporations observed in 2015Q2, 2017Q2, 2019Q2, 2019Q4 and 2020Q1 are related to large imports of intellectual property products reflecting globalisation effects."

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