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MNB: Household savings 5.9% of GDP in 2014

Telco

Net household financial savings or net lending of the household sector totalled HUF 1,882 bln, or 5.9% of GDP in 2014, the National Bank of Hungary (MNB) said in a first reading today.

The savings ratio was up from from 5.1%-of-GDP in 2013, and was the second highest four-quarter ratio since the beginning of 2005. The peak was reached, at 6.0%, in Q3 last year.

In the fourth quarter alone, net lending of households came to HUF 551 bln, or 6.4% of the quarterly GDP.

The quarterly savings ratio rose after dropping in Q2 and Q3 from a more than two-year peak of 7.2% of GDP in Q1 2014.

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