Scared people save: Australia's household savings ratio in 2021 (Economic update 2021 HSC Eco)



Australia’s household savings ratio is a key economic statistic. It show us what percentage of household incomes are saved.

During times of economic downturn and uncertainty, consumers are MORE likely to save their incomes. They are unsure of the future. This will subtract from Australia’s economic growth.

During COVID-19, Australia’s household savings ratio has increased substantially. This gives us a really good insight into the mindset of consumers, especially their lack of confidence.

The figures for this video come from the Australian Bureau of Statistics:
www.abs.gov.au/statistics/economy/national-accounts/australian-national-accounts-national-income-expenditure-and-product/latest-release

Also check out my blog on this topic :
mrsymonds.com/blog/scared-consumers-save-more

source

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