Quarterly Sector Accounts - 3. quarter of 2022

Income of households decreased in real terms by 2.3%, q-o-q

09.01.2023
Code: 050057-22
 

According to seasonally adjusted data, the total of monetary and non-monetary income of households decreased in real terms by 2.3% compared to the previous quarter. The real consumption per capita decreased by 3.3%, quarter-on-quarter (q-o-q), and the saving rate increased by 2.2 percentage points (p. p.). The investment rate of non-financial corporations decreased by 0.9 p. p. compared to the previous quarter.


Non-financial corporations: the profit rate increased

The profit rate in the Q3 2022 was 46.6%, which is by 1.5 p. p. more, compared to the previous quarter, and by 1.8 p. p.1 more, year-on-year. The total labour costs of non-financial corporations increased by 7.7%1, y-o-y. The investment rate decreased by 0.9 p. p., q-o-q, and reached 29.1%. It increased by 1.6 p. p.1, year-on-year.


Households: both income and consumption decreased

The total of real monetary and non-monetary income of households per capita decreased in the Q3 2022 by 2.3%, q-o-q, and by 5.2%1 in the year-on-year comparison.

“The continuing decrease in real income of households and mainly uncertainty about further development resulted in a more considerable decrease in real consumption of households per capita. It decreased by 3.3%, quarter-on-quarter, and by 7.8%1, year-on-year,” Vladimír Kermiet, Director of the National Accounts Department of the CZSO, said.

The average monthly income from employment reached CZK 40 2591 in the Q3 2022. It decreased in real terms by 1.6%, q-o-q; in the y-o-y comparison, it decreased by 10.7%1.

Resulting from the lower quarter-on-quarter decrease in total income of households than their expenditure was a higher saving rate, namely 16.7%. In the quarter-on-quarter comparison, the household saving rate was by 2.2 p. p. higher; in the y-o-y comparison, it increased by 1.9 p. p.1.

The investment rate in the household sector decreased by 0.3 p. p., quarter-on-quarter, and reached 9.3%. In the year-on-year comparison, the investment rate of households decreased by 0.9 p. p.1


GDP estimate refinement

Concurrently, the gross domestic product (GDP) estimate has been refined. The GDP decreased by 0.2% in the q-o-q comparison and increased by 1.5%, y-o-y, in the Q3 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: 30 December 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: 31 March 2023 (Quarterly Sector Accounts for the fourth 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 second quarter of 2022 is available at:
https://ec.europa.eu/eurostat/web/products-euro-indicators/-/2-28102022-AP,
https://ec.europa.eu/eurostat/web/products-euro-indicators/-/2-05102022-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

 

 

  •      acsu010923.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: 09.01.2023
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