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The French will continue to over-save

2021-06-25T08:15:29.110Z


The Banque de France estimates that the French will continue to save more than usual beyond the summer.


The terraces are always full and hotel reservations for this summer are soaring.

After more than a year of ups and downs in the wake of the health crisis, economists think they are finally holding the right end of the recovery.

However, the extent of this rebound will largely depend on a complex factor to predict: household confidence and their willingness to spend or not the savings they have accumulated for more than a year.

At the end of 2020, due to restrictions on consumption and maintenance of income, 115 billion euros had been set aside in bank accounts and savings books.

Read also:

Who are these French people who hide cash under their mattresses

The latest INSEE barometer on French morale, dating from May, pleads for optimism.

The balance of opinion of households relating to their future financial situation had indeed gained three points and returned above its long-term average.

Despite these signals, economists remain cautious, especially since the fall could be the scene of a resurgence,

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Source: lefigaro

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