In the first quarter of 2024, real per capita consumption of households in the euro area grew by 0.8%, up from 0.4% in the previous quarter, Eurostat reports.

Household real income per capita grew by 2.1% in the first quarter of 2024 and by 1.3% in the fourth quarter of 2023.

The household saving rate in the euro area was 15.3% at that time, up from 14.3% in the fourth quarter of 2023, according to Eurostat.

However, the household investment rate in the euro area fell from 9.6% to 9.5%, while the share of business (non-financial corporations) profits fell from 40.3% to 39.5%.

The rate of business investment in the euro area rose from 22% to 22.3% in the first quarter of 2024.