MNB: Households save net 6.1% of GDP in four quarters to Q1

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Image by Jessica Fejos

Net household financial savings reached HUF 2.070 trillion, or 6.1% of GDP, in the twelve months leading up to the end of March, the National Bank of Hungary (MNB) said in a first reading of financial account data today, according to Hungarian news agency MTI.

The four-quarter savings ratio has fallen for the second quarter after reaching a ten-year high at 7.9% at the end of September 2015. 

In Q1 alone, households saved net HUF 442 bln or 5.7% of the quarter ľs GDP. The ratio fell from 6.4% in Q4 last year.

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