Quarterly Sector Accounts, UK - July To September 2024 - Economy Flatlines

23rd December 2024

Real households' disposable income per head is estimated to have shown no growth in Quarter 3 (July to Sept) 2024, following growth of 1.4% in Quarter 2 (Apr to June) 2024.

The household saving ratio is estimated at 10.1% in Quarter 3 2024, down slightly from 10.3% in the previous quarter; the movement in the saving ratio was driven by an increase in household final consumption expenditure.

The UK's borrowing position with the rest of the world as a percentage of gross domestic product (GDP) is estimated to have decreased to 2.8% in Quarter 3 2024 compared with 3.5% of GDP in Quarter 2 2024.

Non-financial corporations decreased net borrowing to 2.4% of GDP in Quarter 3 2024, from 2.9% of GDP in the previous quarter; within non-financial corporations, private non-financial corporations decreased their net borrowing to £17.1 billion from net borrowing of £20.6 billion in the previous quarter.

Financial corporations increased their net lending position to 1.8% of GDP in Quarter 3 2024, from 1.7% of GDP in Quarter 2 2024; this was driven by a fall in acquisitions less disposals of valuables of £8.0 billion, as non-monetary gold exports increased in the latest quarter.

General government decreased net borrowing to 5.3% of GDP in Quarter 3 2024 from 5.9% of GDP in Quarter 2 2024; this decrease was driven by a rise in taxes on income of £4.7 billion and taxes on production and imports of £1.3 billion.

Read the full ONS report HERE