(Finance) – “In the third quarter of 2024 the impact of the public administration deficit on GDP improved significantly compared to the corresponding quarter of 2023, reaching a level of -2.3%. The purchasing power of families, despite a more contained development compared to previous periods, is growing for the seventh consecutive quarter. The propensity to save decreases cyclically, but in trend terms it continues its growth path cyclical trend of both the profit share and the investment rate, confirming the trend towards their reduction observed starting from the first months of 2023”. This is what theIstat In the Quarterly general government accounts, household income and savings and company profits for the third quarter of 2024.
Public administrations
The total exits in the third quarter of 2024 they decreased by 4.4% compared to the corresponding period of 2023 and their impact on GDP (equal to 47.1%) decreased in trend terms by 3.6 percentage points. In the first three quarters of 2024 the relative incidence was equal to 48.5%, a reduction of 2.5 percentage points compared to the corresponding period of 2023. current outputs recorded, in the third quarter of 2024, a trend increase of 4.8% while the capital expenditure they decreased in trend terms by 47.8%.
The total revenue in the third quarter of 2024 they increased in trend terms by 3.9% and their impact on GDP was equal to 44.9%, an increase of 0.5 percentage points compared to the corresponding period of 2023. In the first three quarters of year, the impact of total revenues on GDP was 44%, an increase of 0.4 percentage points compared to the corresponding period of 2023. current income in the third quarter of 2024 they recorded, in trend terms, an increase of 5.4%. However, there was a reduction in capital account revenues of 66.4%.
Overall, in the first three quarters of 2024, the PAs recorded a net debt equal to -4.6% of GDPan improvement compared to -7.4% in the corresponding period of 2023. In the first nine months of 2024, in terms of impact on GDP, the primary balance was negative and equal to -0.6% (-3.8% in the same period of 2023), while the current balance was positive and equal to 0.1% (-0.5% in the corresponding period of 2023). In the same period, the tax burden stood at 39.6% of GDP, up 0.9 percentage points compared to 38.7 in 2023.
Consumer families
In the third quarter of 2024 the gross disposable income of consumer families increased by 0.6% compared to the previous quarter. Against a 0.2% increase in the implicit consumption deflator, purchasing power increased by 0.4%.
There propensity to save among consumer families in the third quarter of 2024 it was 9.2% (-0.8 percentage points compared to the previous quarter). This decline derives from a faster growth in final consumption expenditure than that recorded for gross disposable income (+1.6% and +0.6% respectively).
Non-financial companies
There profit share of non-financial corporations in the third quarter of 2024 it was 42.4%, with a decrease of 0.3 percentage points compared to the previous quarter. In economic terms, the decline in this indicator is the result of a stationarity in the gross operating profit and a 0.7% growth in added value.
The investment rate of non-financial companies in the third quarter of 2024 it was equal to 21.7%, a decrease of 0.4 percentage points compared to the previous quarter compared to a decline in gross fixed investments of 1.1%.