Statisticians have already argued that year-on-year GDP growth over the period monitored was supported by external demand and gross fixed capital creation. Household consumption spending has had a negative impact on the economy.
“The continued decline in real household incomes and, in particular, the uncertainty of further developments led to a more significant decline in real household consumption per inhabitant. It decreased by 3.3% compared to the previous quarter and by 7.8 % year-on-year,” Vladimír Kermiet, director of the CZSO’s national accounts department, said in Monday’s press release.
According to the CZSO, the sum of real monetary and non-monetary household income per inhabitant decreased by 5.2 percent year on year during the reporting period and by 2.3 percent compared with the previous quarter.
The average monthly compensation of employees was 40,259 kroner in the third quarter, so it was 10.7% lower in real terms year-on-year and 1.6% lower than in the second quarter.
“The smaller decline in total household income compared to quarter on quarter led to a higher savings rate of 16.7%,” the statisticians said, adding that the household investment rate fell by 0.9 points on on an annual basis and by 0.3 points in the quarter. – over the quarter at 9.3%.
For non-financial enterprises, the profit rate increased on a quarterly basis and on an annual basis, reaching 46.6%. Their investment rate was 29.1%, higher than the same period last year, but lower than the previous quarter.
Industrial growth slowed in November, automakers did well
Economic
