30 June 2017
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Tom McPhail: “This data is likely to set alarm bells ringing."
Household savings have reached a record low, with Brits saving on average just 1.7% of their earnings, according to the latest figures from the Office of National Statistics (ONS).
The ONS household savings ratio fell from 3.3% in the fourth quarter of 2016 to 1.7% in Q1 2017, having already started to decline in July 2015. The ONS said the 48% drop was partly due to an increase...
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