MARCH 2022 45 MONTHLY STATISTICAL BULLETIN Household disposable income increased by 4.0% in 2021, in nominal terms Net Lending(+) /Borrowing(-) by institutional sector (in % of GDP, accumulated sum of 4 quarters) In the 4th quarter of 20211: • The net lending of the economy stood at 0.7% of GDP, identical to the value recorded in the previous quarter, but 0.9 p.p. higher than in the 4th quarter of 2020; • Nominal GDP increased by 1.6% compared to the previous quarter and 5.6%compared to the same quarter of the previous year; • Gross National Income (GNI) increased by 2.0% from the previous quarter and 6.0%when compared with the 4th quarter of 2020; • Gross Disposable Income (GDI) grew by 2.0% quarter-on- -quarter and 6.7% compared with the same quarter in 2020; • The GDI of households increased by 1.4% compared to the previous quarter and 4.0% compared to the last quarter of 2020; The growth in the compensation of employees contributed essentially to this outcome: 1.5% in comparison with the previous quarter and 5.6% in annual terms; • The net lending of households decreased by 0.6 p.p., to 4.4% of GDP, and the savings rate decreased to 10.9% (11.7% in the previous quarter and 12.6% in 2020); 1 Unless otherwise stated, in order to eliminate fluctuations of seasonal nature and to attenuate irregularity so as to capture the trend behaviour of the series under consideration, the information presented refers to the year ended in the reference quarter. Thus, the results for the 4th quarter coincide with annual values. The comparison between consecutive quarters generally uses chain rates of change between the year ended in the quarter in question and the year ended in the previous quarter. - 2.4% 1.5% - 2.8% 4.4% 0.7% - 2.0% 1.7% - 4.0% 5.0% 0.7% -5.0% -4.0% -3.0% -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% Non-Financial Corporations Financial Corporations General Government Household and NPISH Total Economy 4th Quarter of 2021 3rd Quarter of 2021
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