Spain’s saving rates dropped in the last three months

Photo of Angeles Muñoz, the mayor of Marbella. Credit: [email protected]_Marbella

THE savings rate of households and non-profit institutions has dropped by 1.8 per cent. 

According to the National Institute of Statistics (INE), the savings rate of said entities was 4.4 per cent of their available income during the last three months of 2014, the lowest figure registered since 2007.

In the third semester of 2010, the rate reached 5.7 per cent and increased to 8.9 per cent in the same period of 2011.

In 2012, the figures dropped to 7.5 per cent and to 6.2 per cent during the first part of 2014. 

In addition, in the third semester of 2014 the household and non-profit institutions final consumption expenditure amounted to more than €154 billion, which translated into a 2.6 per cent increase, when compared to the same period of 2013. 

As a result, both groups counted on gross incomes higher than their expenditure, although lower than in 2013. 

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