New figures from the Central Statistics Office show that households saved 14.99% of their income in the first three months of the year, up significantly on the previous quarter when it was 13% and the first increase after three quarters of decline.
The household saving rate here moved closer to that of the euro area more widely, where it is 15.3%.
The CSO noted that after having had a higher saving rate during the Covid-19 pandemic, saving levels in Ireland were at or slightly below the euro zone in more recent quarters.
It added that the increasing number of people working, higher wages and higher income on assets such as pension funds are driving up household income and so people feel they can save more.
Irish households saved a total of €8.3 billion in the first quarter of this year, which was saved as investment in new homes, bank deposits and other assets.
Today's CSO figures also showed that the Government sector had a surplus of €521m in the first quarter of this year, down from a surplus of €665m the same time last year.
The CSO said that higher receipts of VAT-type taxes on products drove growth on the income side of the account, while on the expenditure side, social protection payments and provision of services were both significantly higher.
It also noted that the Irish economy had a positive current account balance of €14.3 billion in the first three month of 2024, an increase on last year's first quarter
