UK recovery propped up by fall in family savings - TUC

According to the union, recent "fragile" signs of recovery have coincided with a 43% fall in family saving, which is now at its lowest level in four years. The TUC analysis showed that between March 2012 and March 2013 the proportion of income that families put away dropped from £20.1bn to £11.4bn. Over this same period, consumer spending increased by 4.2% from £253.3bn to £264.0bn. This in turn helped the economy grow by 0.3%. However, had saving rates remained the same during these five quarters, household spending would have been £9bn lower and GDP £5.9bn lower. The TUC sa...