With the introduction of quarterly financial sector accounts from January 2010consistency has been achieved between the real and financial sides of thequarterly sectoral national accounts. This paves the way for one consistentframework for analysing developments in important financial and real macroeconomicelements, which may contribute to a better understanding of theinteraction between the financial sector and the real economy. This articlefocuses on the financial and real transactions of Danish households and businessenterprises and the related significant development in consumption and investmentduring the most recent economic cycle. A comparison is made with theeuro area.