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Net lending of the Portuguese economy increases
Quarterly National Sector Accounts
Net lending of the Portuguese economy increases - 2nd Quarter 2013
30 September 2013

Summary
In the year ending in the 2nd quarter of 2013, the net lending of the Portuguese economy increased to 1.6% of GDP (1.0% of the GDP in the 1st quarter of 2013). This result was mainly due to the improvements in the balance of goods and services, with exports growing 1.6%. 
The households saving rate reached 13.6% in the year ending in the 2nd quarter of 2013 (13.4% in the previous quarter). This increase was determined by the reduction of 0.5% in the final consumption, which more than offset the decrease in disposable income (change rate of -0.3% in the year ending in the 1st quarter of 2013). The households net lending increased to 7.8% of GDP in the year ending in the 2nd quarter of 2013 (plus 0.2 percentage points than in the previous quarter).
Non-financial corporations and financial corporations balances stood respectively at -2.4% and 2.4% in the year ending in the 2nd quarter of 2013.
The net borrowing of general government decreased from 7.0% of GDP in the year ending in the 1st quarter of 2013 to 6.1% in the year ending in the 2nd quarter of 2013. This behaviour reflected the increase in current taxes on income and the decrease in capital transfers expenditure.
Gross National Income remained unchanged and Gross Disposable Income increased by 0.2%, determined by the improvement in the balance of primary income with the Rest of the World.
Unit labour costs remained unchanged, with average compensation of employees and productivity growing at almost the same rates.

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