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Household saving rate reaches 13.4% in first quarter of 2025

The saving rate of households is the proportion of income that is left over after current consumption
The saving rate of households is the proportion of income that is left over after current consumption

New figures from the Central Statistics Office show that the seasonally adjusted household saving rate stood at 13.4% in the first quarter of 2025.

The CSO said this was up marginally from the rate of 13.3% in the fourth quarter of 2024 and in line with the average in recent years, as both income and expenditure increased.

The saving rate of households is the proportion of income that is left over after current consumption.

Today's CSO figures also reveal that the Government surplus reached €0.8 billion in the first quarter of this year as income from household and corporation taxes increased.

This was only the second time since 2007 a government surplus was recorded in the first three months of the year as there is normally a deficit in the first quarter of the year, the CSO noted.

For the economy as a whole, Gross Domestic Product (GDP) grew significantly on the back of higher pharmaceutical exports in the first three months of the year as companies stockpiled their products ahead of threatened US tariffs.