According to data from the Caisse des Dépôts, the French are not about to spend their savings to participate in the recovery.
In August, the collection of the livret A and the sustainable development and solidarity booklet started to rise again, after several months of gradual decline.
These two products collected 2.85 billion euros, against 2.49 billion euros the previous month.
In detail, the livret A received 2.25 billion euros, against 600 million euros for the LDDS.
Evolution of monthly net inflows since early 2020 Caisse des Dépôts, Le Figaro
In the longer term, the savings trend of the French does not seem to be stopping.
While the collection gradually fell after a peak of 7.39 billion euros during confinement, last April, the curve started to rise again, in the heart of the summer holidays.
Worried about the economic and health situation, the French are increasingly adopting an “
ant
”
attitude
: since early 2020, net deposits on livrets A have reached 24.5 billion euros, against just under 7 billion. euros on LDDS, a total of more than 31 billion euros set aside in eight months.
Unheard of, despite particularly low rates on the A booklet.
Evolution of cumulative net inflows since early 2020 Caisse des Dépôts, Le Figaro
By way of comparison, the net inflows of these two products had reached "
only
" 16.55 billion euros in 2019. The Caisse des Dépôts furthermore points out that the total amount outstanding on these passbooks reached 442.4 billion euros. 'euros at the end of August.
In early September, the Banque de France specified that households in France had deposited in their bank accounts 85.6 billion euros between March and the end of July.
Cash included, this sum even exceeds 100 billion euros.
These developments are easily explained: the health and economic context is particularly uncertain, and if some representatives of employers are more optimistic, fears remain around the rise in unemployment and the explosion of social plans in the coming months.
From now on, the government hopes to see savings reinvested in the economy via consumption: “
we are the country which has preserved purchasing power the most.
The French have saved and we now hope that they will consume,
”declared Labor Minister Élisabeth Borne in September.
