Quarterly Sector Accounts - 2. quarter of 2024
Consumption of households increased by 0.8%, q-o-q
Publication Date: 01. 10. 2024
Product Code: 050057-24
Non-financial corporations: the investment rate and the profit rate increased, q-o-q
The profit rate in the Q2 2024 was 46.5%, which is by 0.2 percentage point more, quarter-on-quarter, and by 0.6 p. p.1 less, year-on-year. The total labour costs of non-financial corporations increased by 5.9%1, y-o-y. The investment rate increased by 0.6 p. p., q-o-q, and reached 26.5%. It decreased by 0.9 p. p.1, year-on-year.
Households: the income decreased, consumption increased, q-oq
“In the Q2 2024, expenditure of households increased by 1.7%, year-on-year, whereas their income increased by 0.4%,” 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 decreased in the Q2 2024 by 0.1%, q-o-q; in the y-o-y comparison, it increased by 0.4%1.
Household real consumption per capita increased by 0.8%, q-o-q; in the year-on-year comparison, it increased by 1.7%1.
The average monthly income from employment reached CZK 48 8101 in the Q2 2024. It increased in real terms by 0.2%, q-o-q; in the y-o-y comparison, it increased by 2.6%1.
The household saving rate was 18.7% in the Q2 2024, which is by 0.3 p. p. more compared to the previous quarter and by 0.6 p. p. less in the year-on-year comparison.
The investment rate in the household sector increased by 0.1 p. p. , q-o-q, and reached 10.9%. In the year-on-year comparison, the investment rate stagnated.1
GDP estimate refinement
At the same time, the gross domestic product (GDP) estimate has been refined. The GDP increased in the Q2 2024 by 0.4%, q-o-q, and in the year-on-year comparison by 0.6%. For the time series of GDP resources and uses see: Gross domestic product - time series | Products (gov.cz).
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: 23 September 2024
Related CZSO’s website: Quarterly National Accounts, GDP resources and uses and GDP preliminary estimate - News Releases | Statistics (gov.cz)
Next news release will be published on: 3 January 2025 (Quarterly Sector Accounts for the third 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 first quarter of 2024 is available at:
https://ec.europa.eu/eurostat/en/web/products-euro-indicators/w/2-26072024-ap,
https://ec.europa.eu/eurostat/en/web/products-euro-indicators/w/2-04072024-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