Quarterly Sector Accounts - 4. quarter of 2024

Non-financial corporations: the profit rate decreased

The profit rate in the Q4 2024 was 44.3%, which is by 1.0 percentage point (p. p.) less compared to the previous quarter and by 3.0 p. p.¹ less, year-on-year. The total labour costs of non-financial corporations increased by 6.3%¹, y-o-y. The investment rate stagnated, q-o-q, and reached 26.9%. It decreased by 1.1 p. p.¹, year-on-year.

Households: both the income and consumption increased

The total of real monetary and non-monetary income of households per capita increased in the Q4 2024 by 0.1%, q-o-q, and by 1.8%¹ in the year-on-year comparison.

Real consumption of households per capita increased by 1.5%, quarter-on-quarter, and in the year-on-year comparison it increased by 3.4%¹.

The average monthly income from employment reached CZK 52 363¹ in the Q4 2024. It increased in real terms by 0.9%, q-o-q; in the y-o-y comparison, it increased by 3.9%¹.

The household saving rate was 18.3% in the Q4 2024, which is by 0.8 p. p. less compared to the previous quarter and by 1.3 p. p. less, year-on-year.

The investment rate in the household sector decreased by 0.2 p. p., quarter-on-quarter, and reached 10.7%. In the y-o-y comparison, the investment rate of households decreased by 0.4 p. p.¹

Year 2024

Non-financial corporations: both the profit rate and the investment rate decreased

The profit rate in 2024 reached 45.4%, which was by 1.6 p. p.¹ less, y-o-y. The profit rate in the Czech Republic remained above the European Union’s average, where it reaches approximately 40%. In nominal terms, profits increased, y-o-y, despite an increase of labour costs, which increased by 6.2%¹, year-on-year. The investment rate decreased by 1.1 p. p.¹ compared to that of 2023 and reached 26.5%.

The profit rate and the investment rate of non-financial corporations (%)

Households: both the real income and consumption increased

The household real income per capita increased by 1.5% compared to that of 2023 and the household real consumption per capita increased by 2.4%.

Household real income and expenditure, y-o-y change (%)¹

The average monthly income from employment reached CZK 49 067¹ in 2024 and increased by 3.3%, in real terms, compared to 2023.

The saving rate reached 18.8% in 2024 and was by 0.9 p. p.¹ lower than in 2023. The investment rate in the household sector reached 10.8% in 2024 and thus it decreased by 0.3 p. p.¹

Relationship to the rest of the world in 2024: profit from foreign investment reached CZK 553 billion

“The profit from foreign investment (profit belonging to foreign owners of corporations) reached last year 6.9% of GDP. Foreign owners distributed over CZK 360 billion in the form of dividends; over CZK 192 billion were reinvested,” Vladimír Kermiet, Director of the National Accounts Department of the Czech Statistical Office (CZSO), said.

On the other hand, the outflow of income from profit was partially compensated by an inflow of income from abroad, especially by income from employment and by subsidies. The balance of primary income from abroad worsened by CZK 238 billion, y-o-y, and reached CZK -348 billion.

The gross national income decreased in real terms by 0.8% in 2024, which was related to the worsened balance of primary income.

The gross disposable income for the whole economy decreased in real terms by 0.9% in 2024.

GDP estimate refinement

New data for the general government sector were also included in the sector accounts for the fourth quarter of 2024, which resulted in the refinement of the gross domestic product (GDP) growth rate estimate. In the fourth quarter of 2024, the GDP increased by 0.7%, quarter-on-quarter, and by 1.8%, year-on-year. In the year 2024, the GDP increased by 1.0%. For the time series on GDP resources and uses see: Gross domestic product - time series | Products (gov.cz).