The statistical discrepancy figure is very large but that caveat aside the data shows that the gross savings ratio of households has been falling from 2009, declining from over 16% to 10.2% last year. The IMF, among others, are assuming that an upturn in consumption will in part be financed by a run down in savings but it appears that is already happening, even though consumption is still falling.
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The statistical discrepancy figure is very large but that caveat aside the data shows that the gross savings ratio of households has been falling from 2009, declining from over 16% to 10.2% last year. The IMF, among others, are assuming that an upturn in consumption will in part be financed by a run down in savings but it appears that is already happening, even though consumption is still falling.