Quarterly Sector Accounts - 1st quarter of 2023

Income of households in real terms decreased by 1.2%, q-o-q

30.06.2023
Code: 050057-23
 

According to seasonally adjusted data, the total of monetary and non-monetary income of households decreased in real terms by 1.2% compared to the previous quarter. The real consumption per capita decreased by 2.6%, quarter-on-quarter (q-o-q). The saving rate decreased by 0.6 percentage point (p. p.). The investment rate of non-financial corporations decreased by 1.3 p. p. compared to the previous quarter.


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

The profit rate in the Q1 2023 was 48.6%, which is by 0.2 percentage point more, quarter-on-quarter, and by 3.1 p. p.1 more, year-on-year. The total labour costs of non-financial corporations increased by 10.6%1, y-o-y. The investment rate decreased by 1.3 p. p., q-o-q, and reached 27.2%. It decreased by 2.5 p. p.1, year-on-year.


Households: both the income and consumption decreased

“The total of real monetary and non-monetary income of households per capita decreased in the Q1 2023 by 1.2%, q-o-q, and by 9.6%1 in the year-on-year comparison, mainly due to the high price growth,” Vladimír Kermiet, Director of the National Accounts Department of the Czech Statistical Office (CZSO), said.

Household real consumption per capita decreased by 2.6%, q-o-q; it decreased by 7.6%1 in the year-on-year comparison.

The average monthly income from employment reached CZK 42 3771 in the Q1 2023. It decreased in real terms by 0.7%, q-o-q; in the y-o-y comparison, it decreased by 8.3%1.

The household saving rate was 17.9% in the Q1 2023, which is by 0.6 p. p. less compared to the previous quarter and by 1.6 p. p. more in the year-on-year comparison.

The investment rate in the household sector decreased by 0.3 p. p., q-o-q, and reached 7.3%. In the year-on-year comparison, the investment rate of households decreased by 1.3 p. p.1


GDP estimate refinement

Concurrently, the gross domestic product (GDP) estimate has been refined. The GDP stagnated in the Q1 2023 in the q-o-q comparison and decreased by 0.5%, y-o-y. For the time series of GDP resources and uses see: https://www.czso.cz/csu/czso/hdp_ts.

In accordance with the CZSO Data Revision Policy, annual national accounts for the years 2021 and 2022 have been refined. 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.

 

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: 26 June 2023
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: 29 September 2023 (Quarterly Sector Accounts for the second quarter of 2023)
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 2022 is available at:
https://ec.europa.eu/eurostat/web/products-euro-indicators/w/2-27042023-AP,
https://ec.europa.eu/eurostat/web/products-euro-indicators/w/2-05042023-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

 

 

  •      acsu063023.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: 30.06.2023
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