Quarterly Sector Accounts - 2. quarter of 2022

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

30.09.2022
Code: 050057-22
 

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 stagnated, quarter-on-quarter (q-o-q), and the saving rate decreased by 1.9 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: profit rate stagnated

The profit rate in the Q2 2022 was 44.7% and thus it reached the same value as in the previous quarter, however, it was by 2.0 p. p.1 less, year-on-year. The total labour costs of non-financial corporations increased by 11.1%1, y-o-y. The investment rate increased by 0.4 p. p., q-o-q, and reached 29.8%. It increased by 2.0 p. p.1, year-on-year.


Households: the saving rate decreased in real terms

“The continuing price growth influenced the total of real monetary and non-monetary income of households per capita, which decreased by 1.2%, quarter-on-quarter, and by 8.1%, year-on-year,” Vladimír Kermiet, Director of the National Accounts Department of the CZSO, informed.

Household real consumption per capita stagnated, q-o-q, and increased by 0.9%1 in the year-on-year comparison.

The average monthly income from employment reached CZK 41 0721 in the Q2 2022. It decreased in real terms by 3.2%, q-o-q; in the y-o-y comparison, it decreased by 9.5%1.

Resulting from the quarter-on-quarter stagnation of the total income of households and growth of their expenditure was a lower saving rate, namely 13.8%. In the quarter-on-quarter comparison, the household saving rate was by 1.9 p. p. lower; in the y-o-y comparison, it decreased by 5.7 p. p.1.

The investment rate in the household sector increased by 0.2 p. p., quarter-on-quarter, and reached 10.2%. In the year-on-year comparison, the investment rate of households increased by 1.1 p. p.1


GDP estimate refinement

Concurrently, the gross domestic product (GDP) estimate has been refined. The GDP increased by 0.5% in the q-o-q comparison and by 3.7%, y-o-y, in the Q2 2022. 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

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: 22 September 2022
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: 9 January 2023 (Quarterly Sector Accounts for the third quarter of 2022)

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 2022 is available at:
https://ec.europa.eu/eurostat/web/products-euro-indicators/-/2-27072022-AP,
https://ec.europa.eu/eurostat/web/products-euro-indicators/-/2-05072022-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

 

  •      acsu093022.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: 30.09.2022
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