Summary
In the year ending in the 3rd quarter of 2013, the net lending of the Portuguese economy increased to 1.8% of GDP (1.6% of the GDP in the 2nd quarter of 2013). Similarly to what occurred in the previous quarter, this result mainly reflected the improvements in the balance of goods and services.
The households saving rate decreased slightly to 13.5% in the year ending in the 3rd quarter of 2013 (13.6% in the previous quarter). This increase was determined by the reduction of 0.3% in the disposal income, which was slightly more significant than the decrease in final consumption. Despite that reduction, the households net lending stabilized at 7.8% of GDP in the year ending in the 3rd quarter of 2013. Non-financial corporations and financial corporations balances stood respectively at -1.9% and 2.1% in the year ending in the 3rd quarter of 2013.
The net borrowing of general government increased from 6.1% of GDP in the year ending in the 2nd quarter of 2013 to 6.3% in the year ending in the 3rd quarter of 2013. In the first three quarters of 2013 the net borrowing of general government stood at -5.9% of GDP (-6.1% for the same period of 2012).
Gross National Income and GDP at current prices both increased by 0.2%. Current Saving increased by 2.5%, determined by the improvement of the Gross Disposable Income.
The unit labour costs increased by 0.6%, which was determined by a year-on-year increase in average compensation of employees stronger than the year-on-year increase in productivity.