Quarterly Sector Accounts - 1. quarter of 2021

Income of households decreased by 2.9%, q-o-q

29.06.2021
Code: 050057-21
 

According to seasonally adjusted data, the total of monetary and non-monetary income of households compared to the previous quarter decreased in real terms by 2.9%. The real consumption per capita increased by 0.2%, quarter-on-quarter (q-o-q). The saving rate decreased by 1.3 percentage point (p. p.). The investment rate of non-financial corporations decreased by 0.1 p. p. compared to the previous quarter.


Non-financial corporations: profit rate increased, investment rate decreased

The profit rate in the Q1 2021 was 46.4%, which is by 0.7 percentage point (p. p.) more, quarter-on-quarter, and by 3.4 p. p.1 more, year-on-year. The profit rate was mainly influenced by received subsidies. The total labour costs of non-financial corporations decreased by 0.5%1, y-o-y. The investment rate slightly decreased by 0.1 p. p., q-o-q, and reached 26.7%. It decreased by 1.1 p. p.1, year-on-year.


Households: both income and consumption increased, quarter-on-quarter

The total of real monetary and non-monetary income of households per capita decreased in the Q1 2021 by 2.9%, q-o-q, and increased by 3.5%1 in the year-on-year comparison. Household real consumption per capita increased, q-o-q, by 0.2%. It decreased by 3.4%1 in the year-on-year comparison.

The average monthly income from employment reached CZK 36 2121 in the Q1 2021 and it decreased in real terms by 3.8%, q-o-q; in the y-o-y comparison, it decreased by 1.7%1. The decrease of income from employment reflected shutdown of production and closure of some (business) establishments/premises due to the coronavirus pandemic. Money paid to employees within the “Antivirus” programme are not wages2 according to the ESA 2010 methodology.

Saving rate was 23.7 %. In the y-o-y comparison, it was by 6.9 p. p.1 higher. The investment rate in the household sector increased by 0.2 p. p., quarter-on-quarter, and reached 9.0%.


GDP estimate refinement

Concurrently, the gross domestic product (GDP) estimate has been refined. The GDP decreased by 0.3% in the q-o-q comparison and by 2.4%, y-o-y, in the Q1 2021. For the time series of GDP resources and uses see: https://www.czso.cz/csu/czso/hdp_ts.

In accordance with the revision policy of the CZSO, annual national accounts for the years 2019 and 2020 have been refined. For more information see:  http://apl.czso.cz/pll/rocenka/rocenka.indexnu?mylang=EN. Related to that, relevant quarterly outputs also have been harmonised.  


1 Seasonally non-adjusted piece of data.
2 They are captured as employers’ imputed social contributions (D.122). This item is a part of the total cost of wages, for which employers received operating subsidies.   

All terms are in terms of national accounts; for explanations of terms written in bold italics see: https://apl.czso.cz/nufile/Definitions.pdf.

 

Contact person: Vladimír Kermiet, Director of the National Accounts Department, phone number (+420) 274 054 247, e-mail: vladimir.kermiet@czso.cz
Used data sources updated as at: 23 June 2021
Related CZSO website: https://www.czso.cz/csu/czso/quarterly-national-accounts-gdp-resources-and-uses-and-gdp-preliminary-estimate
Next Release will be published on: 30 September 2021 (Quarterly Sector Accounts for the second quarter of 2021)

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 2020 is available at:
https://ec.europa.eu/eurostat/web/products-euro-indicators/-/2-29042021-AP,
https://ec.europa.eu/eurostat/web/products-euro-indicators/-/2-09042021-AP.

Quarterly sector accounts data are published on the CZSO 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

 

  •      acsu062921.docx

  • Annexes:
  • Table 1 Selected indicators of Quarterly Sector Accounts - (seasonally non-adjusted data)
  • Table 2 Selected indicators of Quarterly Sector Accounts - y-o-y change (seasonally non-adjusted data)
  • Table 3 Selected indicators of Quarterly Sector Accounts (seasonally adjusted data)
  • Table 4 Selected indicators of Quarterly Sector Accounts - q-o-q change (seasonally adjusted data)
  • Chart 1 Average monthly income of households from employment – seasonally adjusted
  • Chart 2 Real income and consumption expenditure of households – seasonally adjusted
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Published: 29.06.2021
The data are valid as of the release date of the publication.


Contact: Information Services Unit - Headquarters, tel.: +420 274 056 789, email: infoservis@czso.cz