The French people's savings have not diminished.
At the end of 2021, households continued to over-save, that is to say to put more aside during the health crisis.
Mainly supplied by the wealthiest French, this over-saving has thus reached, since the start of the crisis, 187 billion euros, according to data unveiled by the Banque de France.
This sum was 114 billion euros a year ago.
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Despite its low yield, the livret A remains a safe bet for French households, wishing to have savings that can be quickly mobilized.
“
Between December 2019 and September 2021, Livret A outstandings increased by 51.5 billion euros in mainland France, representing growth of 18.6%,
” underlines the Banque de France.
But this trend is slowing, since in October, the livret A experienced its strongest disaffection since the end of 2014, suffering a differential of 2.83 billion euros between deposits and withdrawals.
Towards a return to normal?
With a net inflow of 2.7 billion euros in October, life insurance has, on the other hand, enjoyed greater success since September 2019 and had the best October in its history, according to data published at the end of November. by the French Insurance Federation. Contributions (or deposits) had thus reached 13.2 billion euros, "
a record level for the month of October
" and benefits (or withdrawals) 10.5 billion euros.
This preference for long-term investment "
still remains measured knowing that the health situation remains complex as unfortunately proved by the latest announcements on the front of the epidemic
", indicated Philippe Crevel, director of the Cercle de l'Epargne, specifying that "
the deflation of the covid pot has not yet started
".
The uncertainties linked to the pandemic are indeed pushing the French to be cautious.
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However, this savings will be strategic in 2022, since it constitutes a growth reserve.
In a report, the OFCE thus predicted at the end of October that "
a consumption of one fifth of this savings, assuming a common movement in all developed countries, would lead to a growth scenario of 6.2% in 2022, a unemployment rate at 6.0% and inflation up to 2.4%
”.
A big boost compared to growth forecasts of around 4% for next year.
A potential leap forward, while according to an economic report from INSEE published on Tuesday, French growth should be 0.4% in the first quarter and 0.5% in the second quarter of next year.
