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In the second quarter of 2020, when Member States continued to implement the COVID-19 containment measures, household real consumption per capita dropped by 10.7% in the euro area, after a decrease of 3.3% in the previous quarter. This decline is the highest

since the beginning of the time series in 1999. Household real income per capita decreased in the second quarter of 2020 by 3.2%, after an increase of 0.5% in the first quarter.

In the EU household real consumption per capita decreased by 12.3% in the second quarter of 2020, after a decrease of 3.2% in the previous quarter. This decline is the highest since the beginning of the time series in 1999. Household real income per capita decreased by 4.8% in the second quarter of 2020, after an increase of 0.5% in the first quarter 2020.

Household gross disposable income and its components.    During the second quarter of 2020, household gross disposable income decreased by 3.3% in the euro area and by 5.6% in the EU. In both cases, the main reason was the important decrease in wages. Gross operating surplus and mixed income of households and property income (and other current transfers) also contributed negatively. Conversely, current taxes and net social contributions had a strong positive contribution that attenuated the decrease of the gross disposable income, while the contribution of social benefits was positive as well.

Household saving rate significantly up in the euro area, the EU and in the Member States.    In the second quarter of 2020, the saving rate increased by 8.0 percentage points in the euro area, compared to the first quarter. In the EU, it increased by 8.3 percentage points. The household saving rate increased in all Member States, for which data are available for the second quarter of 2020, except in Sweden (-3.2 percentage points, pp). The highest increases were observed in Ireland (+18.1 pp), Spain (+12.3 pp) and Portugal (+9.6 pp), and the lowest in Italy (+3.7 pp) and Czechia (+5.3 pp). In all the cases, the increase of the saving rate was explained by the strong decrease of individual consumption expenditure. The drop in the individual consumption expenditure of households was the most pronounced in Ireland (-21.7%) and Spain (-20.3%). At the same time, the gross disposable income decreased in all Member States except in Denmark and Ireland.

Household investment rate down in the euro area and the EU, varied in the Member States.    In the second quarter of 2020, the investment rate decreased by 0.9 percentage points in the euro area and 0.7 percentage points in the EU. Among the Member States for which data are available, eight Member States recorded a decrease of the household investment rate, with the highest declines in Ireland (-3.1 pp), France (-1.3 pp) and Italy (-1.1 pp). On the contrary, the investment rate of households increased in Finland, Sweden and Portugal, and remained stable in Denmark.