SEPTEMBER 2022 47 More information is available at: Quarterly national sector accounts – 2nd quarter of 2022 23 September 2022 • The balance of Non-Financial Corporations stood at -2.7% of GDP, 0.7 p.p. less than in the previous quarter; The GVA of this sector increased by 3.8%, which was higher than the compensation of employees (change rate of 2.4%), while Gross Fixed Capital Formation grew by 2.1%; • The net lending of Financial Companies decreased by 0.3 p.p., to 1.4% of GDP; • The balance of General Government sector increased by 1.8 p.p., from a net borrowing of 1.6% of GDP in the first quarter to a net lending of 0.2% of GDP. Taking quarterly figures as a reference and not the year ended in the quarter, theGGbalance reached €1,104.6million, corresponding to 1.9% of GDP (-5.6% in the year-on-year period). Consideringfigures for the first half of 2022 as awhole, theGGbalancewas alsopositive (0.8%of GDP), witha significant improvement in this indicator compared not only to the year-on-year semesters of 2020 and 2021, marked by the COVID-19 pandemic, but also that of 2019. 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 -6.0 -4.0 -2.0 0.0 2.0 4.0 6.0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2018 2019 2020 2021 2022 Rate of change of final consump�on expenditure (le� scale) Rate of change of disposable income (le� scale) Saving rate (right scale) Saving rate of Households and NPISH (%; accumulated sum of 4 quarters)
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