The household savings rate climbs to 11.7% in 2023 after their savings skyrocketed by 70.6%

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MADRID, 2 Abr.

MADRID, 2 Abr. (EUROPA PRESS) -

Spanish households placed their savings rate at 11.7% of their disposable income in 2023, a rate 4.1 points higher than that registered in 2022 but lower than the 13.8% in 2021, as reported this Tuesday by the National Institute of Statistics (INE).

In a year marked by the higher cost of living and the rise in interest rates, Spanish families saved 108,139 million euros, 70.6% more than in 2022, while increasing their consumption spending by 6. 1%, up to 813,066 million euros, and increased their investment by 8.1%, up to 64,539 million euros.

In this way, households presented a disposable income of 923,560 million euros in 2023, 11% more than in 2022.

The savings generated by households were sufficient to finance the investment they made throughout the year, which is why they showed a financing capacity of 42,361 million euros, compared to the financing capacity of 2,500 million in 2022.

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