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In Quarter 2 (Q2) 2025, the seasonally adjusted household saving rate was 12.5%, or €1 in €8, of household disposable income.
This saving rate was down from 13.2% in Q1 2025, but close to the average of 12.7% since the start of 2023.
After adjustments for seasonal patterns, Irish household consumption (+2%) and incomes (+1.2%) both rose in Q2 2025, with the faster rise in consumption leading to the lower saving rate.
Household saving was 12.5% in April, May and June (Q2) 2025, compared with 13.2% in Q1 2025 (current price seasonally adjusted). As Figure 1 shows, this is around the average level since the start of 2023. As the ratio depends on two larger aggregates (Total Disposable Income and Final Consumption Expenditure), it is liable to change each quarter.
Household saving can be added to wealth as real assets (such as new homes), or financial assets (such as deposits), or as paying off liabilities (such as mortgage debt). In Q2 2025, before adjusting for seasonality or inflation, households saved €6.8bn. Investment in dwellings and improvements (most of which was by households) was €5.5bn. Additions to pension funds (D.8) were almost €1bn. A detailed quarterly breakdown of changes in financial assets and liabilities will be published by the Central Bank and a revised saving estimate from the non-financial accounts will be published in the coming weeks.
In Q2 2025 households spending on goods and services was €40.2bn, an increase of 2.2%, before price or seasonal adjustments. When seasonal factors are taken into account, final consumption of households was up by 2.0% in the second quarter of 2025. When the effect of price changes is also removed, the volume of consumption increased by 0.9%. The changes in consumption before and after price and seasonal adjustment are shown in Figure 2.
"Household Consumption" and "Individual Consumption Expenditure" in this release both mean Final Consumption Expenditure (FCE) of Households (code P.3 in the European System of Accounts). This is less than the item "Personal Consumption Expenditure" in the Quarterly National Accounts, which includes both FCE of households and Purchased Market Production funded by Social Transfers in Kind from Government (code D.632). Therefore the changes in household Individual Consumption Expenditure in this release differ from those reported in the Quarterly National Accounts.
FCE at constant prices is deflated based on price changes for households resident here, including expenditure by Irish residents when they go abroad, but excluding expenditure by foreign tourists here in Ireland. This differs from the Consumer Price Index (CPI), which excludes expenditure by Irish residents abroad and includes expenditure of foreign tourists within Ireland.
Total Disposable Income (TDI) of households was €47bn in the quarter before adjustment. After adjustment for seasonal factors, this was up 1.2% compared to the first quarter of 2025. After adjustment for price as well as seasonal factors, income was similar (up 0.4%) to Q1 2025. The changes in TDI before and after price and seasonal adjustment are shown in Figure 3.
The largest component of household income is Compensation of Employees (CoE): unadjusted CoE rose 4.9% and made up €40bn of the €47bn TDI in the quarter. In addition to wages, TDI also includes other income such as self-employed earnings, interest and dividends received and social benefits (such as Child Benefit), but is after deduction of income taxes, social contributions (such as PRSI) and interest paid. More detail will be published in the Institutional Sector Accounts release next month.
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Statistician's Comment
The Central Statistics Office (CSO) has today (12 September 2025) published Household Saving Quarter 2 (Q2) 2025.
Commenting on the release, Mark Manto, Statistician in the National Accounts Analysis & Globalisation Division, said: "Households saved 12.5%, or €1 in €8, of their disposable income in April, May, and June (Q2) 2025, which is in keeping with the 2023 and 2024 average. Saving can add to a household's overall wealth in the form of buying new homes, growing bank deposits, pension savings, and paying off debt.
While household income rose in the quarter, households were also spending more on final consumption. This increased spending was driven by both higher prices (inflation) as well as higher volumes of goods and services being bought.
Today's results are preliminary and are subject to revision after the publication of the Institutional Sector Accounts for Q2 2025 release in the coming weeks."