Britons save cash at record rate as lockdown curbs spending

Industry News | 01/10/20

The fate of the UK’s recovery will hinge on how quickly nervous households return to spending after saving almost a third of their income during the national lockdown, economists have warned.

The Office for National Statistics’ more detailed breakdown of the April-June quarter – the worst decline on record – showed average household savings jumping to a record high of 29.1pc after the shuttering of all but non-essential shops.

Source: The Telegraph