The gross savings rate for Belgian households decreased significantly during the first quarter of 2015, reveal figures from the National Bank of Belgium on Friday. Households could only save an average of 13.5% of their earnings, when the rate was 14.7% at the end of 2014. Household disposable income decreased by 0.6%. Final consumption expenditure increased for its part by 0.8%. Gross savings rates thus went down by 1.2% compared to the previous quarter.
This marks the first time since the last quarter of 2013 that the savings rate goes below the 14% benchmark.
Lars Andersen (Source: Belga)