Decent rise in the saving ratio. The........>

UK DATA: Decent rise in the saving ratio. The following from the ONS:

"The households' saving ratio increased markedly to 8.6% in the latest quarter,

compared with 6.6% in the previous quarter, as households reduced their

consumption spending by GBP9.5 billion (negative 2.7%). Before adjusting for

inflationary effects, this is the largest quarterly fall in household spending

since quarterly records began in 1955 and is driven by large falls in

expenditure on motor vehicles, restaurants and hotels, and clothing and

footwear.

Adding to the decreased spending was an increase in net social benefits other

than social transfers in kind (SBOTTIK). The rise in SBOTTIK came from two

sources: increased pension receipts and a smaller, broad-based increase in state

benefits being paid to households."

- The interesting part there is that spending on motor vehicles, restaurants,

hotels and clothing all had begun to noticeably fall in Q1 before lockdown

really got into full swing.