MNB: Household savings 5.9% of GDP in 2014
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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.