UK Households Save More as Caution Over Outlook Intensifies
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Britons are saving an historically large portion their disposable income, a sign that consumers are reluctant to spend in the face of a weak domestic economy and a turbulent global backdrop.
The saving ratio rose to 12% in the fourth quarter from 10.3% in the previous three months, the Office for National Statistics said Friday. Excluding the pandemic, it was the highest rate since 2010 in the aftermath of the financial crisis. Prior to Covid it stood at less than 6%. The ONS confirmed that the UK saw modest growth of 0.1% in the final quarter of 2024.