Real household consumption per capita rose by 0.1% in the Eurozone and by 0.2% in the EU in the second quarter of 2024, compared with a year earlier, according to figures published on Tuesday by the European statistical agency Eurostat.
At the same time, real household income per capita rose by 0.4% in the Eurozone and 0.6% in the EU.
Gross disposable income per household rose by 0.7% in the Eurozone and 1% in the EU in the second quarter of 2024. This rise was mainly due to the significant positive contribution from employees' salaries and social benefits in the Eurozone and the EU. The largest negative contribution came from taxes and net social contributions.
Over this period, the savings rate rose by 0.3 percentage points (pp) in the Eurozone and by 0.5 points in the EU on an annual basis. Denmark recorded the biggest increase (+6.1 pp), followed by Hungary (+5.0 pp). The biggest falls were in Spain (-1.0 pp) and Ireland (-0.8 pp).
Finally, the household investment rate fell by 0.1 pp in the eurozone and the EU in the second quarter of 2024, compared to the previous quarter. The Netherlands recorded the biggest increase (+0.6 pp), followed by Ireland and Hungary (+0.4 pp each).
The biggest falls were registered in Denmark and Italy (-0.5 pp each) and France (-0.3 pp).
