• The net lending of Portuguese economy diminished in the year ending in the third quarter of 2020, moving from 0.9% of Gross Domestic Product (GDP) in the previous quarter to an approximately nil balance. Gross Disposable Income (GDI) and nominal GDP decreased by 0.9% and 1.0% in the year ending in the third quarter of 2020 (-2.8% and -3.3% in the previous quarter, respectively).
• In the same period, the net lending of households' sector increased by 0.3 percentage points to 4.3% of GDP and the savings rate increased to 10.8% (10.5% in the previous quarter). This result reflected the 0.4% increase in GDI and the nil rate of change of private consumption.
• The balance of Non-Financial Corporations increased 1.0 percentage points in the third quarter, standing at -2.2% of GDP, mainly reflecting the 19.6% and 2.4% reduction in Income Tax and Gross Capital Formation, respectively. The net lending of Financial Corporations was stable at 1.9% of GDP.
• The balance of the General Government (GG) sector decreased by 2.1 percentage points in the year ending in the third quarter of 2020, representing a net borrowing of 4.0% of GDP. Considering quarterly figures and not the year ending in the quarter, the balance of GG in the third quarter of 2020 was -1 975.6 million euros (-3.8% of GDP, compared with -10.5% in the second quarter). Considering the first three quarters of 2020, the balance of the GG stood at -4.9% of GDP, which compares with +0.7% in the same period of 2019.
Despite the circumstances determined by the pandemic COVID-19, Statistics Portugal calls for the best collaboration by companies, families and public entities in responding to Statistics Portugal’s data requests. The quality of official statistics, particularly its ability to identify the impacts of the pandemic COVID-19, crucially depends on this collaboration, which Statistics Portugal thanks in advance.