Quarterly Sector Accounts - 3rd quarter of 2023

Income of households increased by 0.9%, q-o-q

05.01.2024
Code: 050057-23
 

According to seasonally adjusted data, the total of monetary and non-monetary income of households increased in real terms by 0.9% compared to the previous quarter. The real consumption per capita decreased by 0.3%, quarter-on-quarter (q-o-q), and the saving rate increased by 0.8 percentage point (p. p.). The investment rate of non-financial corporations increased by 0.4 p. p. compared to the previous quarter.


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

The profit rate in the Q3 2023 was 48.5%, which is by 0.2 p. p. less, compared to the previous quarter, and by 0.3 p. p.1 more, year-on-year. The total labour costs of non-financial corporations increased by 7.1%1, y-o-y. The investment rate increased by 0.4 p. p., q-o-q, and reached 28.9%. It increased by 0.3 p. p.1, year-on-year.


Households: income increased, q-o-q, consumption decreased

“The total of real monetary and non-monetary income of households per capita increased in the Q3 2023 by 0.9%, q-o-q, and decreased by 3.7%1 in the year-on-year comparison,”2 Vladimír Kermiet, Director of the National Accounts Department of the CZSO, said.

The household real consumption per capita decreased by 0.3%, q-o-q; in the year-on-year comparison, it decreased by 5.2%1,3.

The average monthly income from employment reached CZK 43 3711 in the Q3 2023. It increased in real terms by 0.5%, q-o-q; it stagnated in the y-o-y comparison1.

The household saving rate reached 18.7% in the Q3 2023, which is by 0.8 p. p. more compared to the previous quarter and by 0.7 p. p.1 more, year-on-year.

The investment rate in the household sector decreased by 0.1%, q-o-q, and reached 7.4%. In the year-on-year comparison, the investment rate of households decreased by 0.2 p. p.1


GDP estimate refinement

Concurrently, the gross domestic product (GDP) estimate has been refined. The GDP decreased by 0.6% in the q-o-q comparison and by 0.8%, y-o-y, in the Q3 2023. For the time series of GDP resources and uses see: https://www.czso.cz/csu/czso/hdp_ts.


1 seasonally non-adjusted piece of data
2 income of households per capita would have fallen by 0.8% if those granted temporary protection in connection with the armed conflict in Ukraine were not included.
3 household consumption per capita would have decreased by 2.4% year-on-year if persons granted temporary protection in connection with the armed conflict in Ukraine were not included.


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: 19 December 2023
Related CZSO website: https://www.czso.cz/csu/czso/quarterly-national-accounts-gdp-resources-and-uses-and-gdp-preliminary-estimate
Next news release will be published on: 28 March 2024 (Quarterly sector accounts for the fourth quarter of 2023)
Data of quarterly sector accounts are seasonally adjusted unless otherwise stated.

The news release of Eurostat on quarterly sector accounts is published later. The latest published information for the second quarter of 2023 is available at:
https://ec.europa.eu/eurostat/web/products-euro-indicators/w/2-27102023-ap,
https://ec.europa.eu/eurostat/web/products-euro-indicators/w/2-05102023-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

 

 

  •      acsu010524.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: 05.01.2024
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