SYNTHESIS INE@COVID-19, 29 Sept-2021

September . 29 . 2021 SYNTH SIS IN @ COVID-19 www.ine.pt page 4/8 Communication Unit | tel: +351 21 842 61 10 | sci@ine.pt Gross disposable income returns to a positive rate of change In the year ending in the 2 nd quarter of 2021 1 , compared to the 2 nd quarter of 2020: • The economy’s net lending was 0.1% of Gross Domestic Product (GDP), the same as in the previous quarter (+0.1 percentage points compared to the previous quarter); Net Lending(+) /Borrowing(-) by institutional sector (in % of GDP, accumulated sum of 4 quarters) • Nominal GDP increased by 3.6% (-1.1% in the year ended in the 1 th quarter of 2021); • Gross National Income (GNI) increased by 3.7% (-1.1% in the previous quarter); • Gross Disposable Income (GDI) increased by 4.0% (-1.0% in the previous quarter); • Households’ 2 net lending decreased by 2.3 percentage points (p.p.), to 5.2% of GDP, and the savings rate was 11.5% (14.2% in the previous quarter), mainly reflecting the 4.4% growth in private consumption (-1.8% in the previous quarter); • The balance of Non-Financial Corporations stood at -0.9% of GDP, 1.7 p.p. more than in the previous quarter, reflecting the 5.6% increase in Gross Value Added (GVA); • The net lending of Financial Corporations decreased by 0.6 p.p., to 1.6% of GDP; • The General Government borrowing requirement decreased to -5.8% of GDP (-7.0% in the previous quarter). The reduction in the deficit was due to a higher increase in revenue (3.2%) than in expenditure (0.7%); These results correspond to the preliminary estimates for the second quarter 2021, a period in which there was a progressive reduction in the restrictive measures on mobility in consequence of the COVID-19 pandemic, after the general confinement in the previous quarter. It is important to mention that these results are entirely consistent with the final annual results for 2019 and the provisional results for 2020. 1 Unless otherwise stated, the descriptive analysis and graphs presented relate to the year ended in the reporting quarter. 2 Includes Non-Profit Institutions Serving Households (NPISHs) -0,9% 1,6% -5,8% 5,2% 0,1% -2,6% 2,2% -7,0% 7,5% 0,0% -8,0% -6,0% -4,0% -2,0% 0,0% 2,0% 4,0% 6,0% 8,0% 10,0% Sociedades Não Financeiras Sociedades Financeiras Administrações Públicas Familias e ISFLSF Total da economia 2.º Trim 2021 1.º Trim 2021