Summary
In the first quarter of 2014, Gross National Income and GDP at current prices increased by 0.2% and 0.3%, respectively. The gross savings of the economy increased, attaining 15.8% of GDP, due to the increase by 0.5% of the Disposable Income, while final consumption increased 0.3%.
In the 1st quarter of 2014, the net lending of the Portuguese economy decreased to 1.7% of GDP (net lending of 1.9% in 2013) with the increase in Gross Capital Formation (change rate of 2.5%) more than compensating the improvement in gross savings.
The households saving rate maintained the downward trend, attaining 11.9%, mainly due to the increase of the final consumption expenditure. The net lending of households decreased, reaching 6.1% of GDP in the 1st quarter of 2014 (6.8% in the previous quarter). The non-financial corporations and financial corporations balances stood respectively at -2.4% and 2.0% of GDP in the 1st quarter of 2014 (-2.2% and 2.3% in the previous quarter, by the same order).
The net borrowing of general government decreased from 5.0% of GDP in 2013 to 4.0% in the year ending in the 1st quarter of 2014. This behaviour mainly reflected the decrease in other capital expenditure and, to a lesser extent, in compensation of employees paid.