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Disposable incomes slump in 1st Quarter

Thursday, July 31 11:13:01

On a seasonally adjusted basis, the quarterly gross disposable income of households was E22,205m in the first three months of this year - a decrease of E1,120m or 4.8pc compared with the fourth quarter of 2013.

Latest CSO figures show that there was also a decrease in quarterly household expenditure of E138m over the same period (E19,604m in Q1 2014 compared with E19,742m in Q4 2013).

Overall, gross household saving decreased by E982m from E3,583m in Q4 2013 to E2,601m in Q1 2014. The derived gross saving ratio, which expresses saving as a percentage of gross disposable income, decreased from 15.4pc in Q4 2013 to 11.7pc in Q1 2014.

Gross saving for the total economy increased by E396m, from E8,227m in Q1 2013 to E8,623m in Q1 2014.

This is explained largely by a decrease in the gross saving of non-financial corporations (-E1,062m) being offset by increases in the saving of Households (+E277m), Government (+E897m) and the Financial sector (+E296m).

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