Total euro area economy
Euro area net saving increased to €809 billion (6.9% of euro area net disposable income) in the four quarters to the first quarter of 2024, as compared with €785 billion in the four-quarter period ending in the fourth quarter of 2023. Euro area net non-financial investment decreased to €525 billion (4.5% of net disposable income), mainly due to decreased investment by non-financial corporations (see Chart 1 and table 1 in the Annex).
Euro area net lending to the rest of the world grew to €330 billion (from €268 billion in the previous quarter), reflecting the increased net saving and decreased net non-financial investment. Household net lending increased to €452 billion (3.9% of net disposable income), from €402 billion. Net lending of non-financial corporations grew to €261 billion (2.2% of net disposable income) from €256 billion, and that of financial corporations increased to €132 billion (1.1% of net disposable income) from €125 billion. Net borrowing of government stood unchanged at €515 billion (-4.4% of net disposable income), contributing negatively to euro area net lending.