Data for NFC gross-operating surplus, non-financial investment and financing
Households
Household gross disposable income increased at a higher annual growth rate of 3.2% in the second quarter of 2026 (after 3.0% in the previous quarter), as the growth of net property income increased to 0.2% (after -0.6%). Gross operating surplus and mixed income of the self-employed grew at a broadly unchanged rate of 2.6%, while the compensation of employees increased at a lower rate of 3.8% (after 4.0%). Household consumption expenditure grew at a higher rate of 4.3% (after 3.5%). This more than offsets the growth in gross disposable income and, as a result, the household gross saving rate decreased, to 14.4% in the second quarter of 2026 compared with 14.6% in the previous quarter.
Household gross non-financial investment (which refers mainly to housing) increased at a higher annual rate of 5.9% in the second quarter of 2026 (after 5.3% in the previous quarter). Loans to households, the main component of household financing, grew at a broadly unchanged rate of 2.9%.
Household financial investment increased at a lower annual rate of 2.6% in the second quarter of 2026 (after 2.9% in the previous quarter), as currency and deposits (2.4%, after 2.8%), investment in shares and other equity (1.6%, after 2.0%), and pension schemes (4.9%, after 5.5%) all grew at lower rates. By contrast, investment in debt securities increased at a higher rate of 6.2% (after 3.5%), and investment in life insurance grew at an unchanged rate (2.8%).
Household net worth increased at a higher annual rate of 5.3% in the second quarter of 2026 (after 4.2% in the previous quarter). The faster growth was mainly due to a higher growth in the prices of financial assets. Housing wealth, the main component of non-financial assets, grew at a lower rate of 3.6% (after 4.0%), due to a slower housing price dynamics. The household debt-to-income ratio decreased to 80.3% in the second quarter of 2026, from 80.6% in the second quarter of 2025.
