Quarterly Sector Accounts - 1. quarter of 2024
Income of households in real terms increased by 0.2%, q-o-q
Product Code: 050057-24
Non-financial corporations: the investment rate and the profit rate decreased
The profit rate in the Q1 2024 was 46.2%, which is by 0.5 percentage point less, quarter-on-quarter, and by 2.1 p. p.1 less, year-on-year. The total labour costs of non-financial corporations increased by 6.6%1, y-o-y. The investment rate decreased by 2.4 p. p., q-o-q, and reached 25.6%. It decreased by 1.1 p. p.1, year-on-year.
Households: both the income and consumption increased, quarter-on-quarter
“In the Q1 2024, both the income and expenditure of households increased, quarter-on-quarter, and their saving rate decreased by almost two percentage points,” Vladimír Kermiet, Director of the National Accounts Department of the Czech Statistical Office (CZSO), said.
The total of real monetary and non-monetary income of households per capita increased in the Q1 2024 by 0.2%, q-o-q; in the y-o-y comparison, it decreased by 0.2%1.
Household real consumption per capita increased by 0.8%, q-o-q; in the year-on-year comparison, it increased by 1.5%1.
The average monthly income from employment reached CZK 47 0921 in the Q1 2024. It increased in real terms by 1.1%, q-o-q; in the y-o-y comparison, it increased by 3.2%1.
The household saving rate was 18.0% in the Q1 2024, which is by 1.9 p. p. less compared to the previous quarter and by 2.1 p. p. less in the year-on-year comparison.
The investment rate in the household sector decreased by 0.1 p. p., q-o-q, and reached 10.7%. In the year-on-year comparison, the investment rate of households decreased by 0.7 p. p.1
GDP estimate refinement
At the same time, the gross domestic product (GDP) estimate has been refined. The GDP increased in the Q1 2024 by 0.2%, q-o-q, and in the year-on-year comparison by 0.3%. For the time series of GDP resources and uses see: https://csu.gov.cz/produkty/hdp_ts.
In accordance with the CZSO’s Data revision policy, annual national accounts for the years 2021, 2022, and 2023 have been refined including an occasional revision of the time series. For more information see: http://apl.czso.cz/pll/rocenka/rocenka.indexnu?mylang=EN. Related to that, relevant quarterly outputs have also been harmonised.
1 seasonally non-adjusted piece of data
All terms are in terms of national accounts; for explanations of terms written in bold italics see: https://apl.czso.cz/nufile/Definitions.pdf.
Notes
Contact person: Vladimír Kermiet, Director of the National Accounts Department, phone number (+420) 274 054 247, e-mail: vladimir.kermiet@csu.gov.cz
Used data sources updated as at: 21 June 2024
Related CZSO’s website: https://csu.gov.cz/quarterly-sector-accounts
Next news release will be published on: 1 October 2024 (Quarterly Sector Accounts for the second quarter of 2024)
Data of quarterly sector accounts are seasonally adjusted unless otherwise stated.
The news releases of Eurostat on quarterly sector accounts are published later. The latest published information for the fourth quarter of 2023 is available at:
https://ec.europa.eu/eurostat/en/web/products-euro-indicators/w/2-26042024-ap,
https://ec.europa.eu/eurostat/en/web/products-euro-indicators/w/2-09042024-ap .
Quarterly sector accounts data are published on the CZSO’s website in the tables of Transactions in products and distributive transactions by sector: http://apl.czso.cz/pll/rocenka/rocenkavyber.kvart_qsa?mylang=EN&oblast=@RU
and quarterly non-financial sector accounts (current and capital accounts):
http://apl.czso.cz/pll/rocenka/rocenkavyber.kvart_qsa_mat?mylang=EN&oblast=@RU