ONS report: households are saving more money

clock

Households saved more money in the second quarter of this year as incomes improved, latest research has found.

A report from the Office of National Statistics (ONS) revealed the saving ratio for households was 6.7% in the three months ending June. This is a 0.7% rise on the first quarter of the year and represents a gross household saving of £18.2bn in the period - up from £16bn. The ONS said the saving ratio is a key indicator of the economic situation in homes across the country. It describes the savings households make in relation to total income from wages, salaries, pensions, benefits, share dividend, net interest and self-employment income. The Economic Position of Households - Q2 ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read
Spring Budget 24: Chancellor unveils long-term UK growth plan

Spring Budget 24: Chancellor unveils long-term UK growth plan

Includes British ISA launch and further NI cut

clock 06 March 2024 • 1 min read