Household final consumption expenditure in Greece reached €40.3 billion in the January-March period, significantly outpacing disposable income, which stood at €37.14 billion, data from the Hellenic Statistical Authority (ELSTAT) showed on Friday.
According to ELSTAT, final consumption expenditure rose by 6.7% compared to the same period in 2024, while disposable income increased at a much slower pace of 0.7%.
The disposable income of households and non-profit institutions serving households rose 0.7% year-on-year in the first quarter.
As a result, the household savings rate was negative at -8.5% in Q1 2025.
Negative savings have long been a structural issue in Greece, but this was the lowest rate recorded since Q2 2022.
It is worth noting that the significant level of tax evasion, which is not reflected in official data, should also be taken into account.