UK households’ savings fall to record low in warning sign for economy

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Figures suggest people are increasingly dipping into their savings as disposable income also falls

British households ran down their savings to a record low at the end of 2016, raising fears that the UK is on course for a fresh consumer debt crisis in the wake of the Brexit vote.

The saving ratio – which estimates the amount of money households have available to save as a percentage of their total disposable income – fell sharply in the fourth quarter last year to 3.3% from 5.3% in the third.

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March 31, 2017 at 09:51PM

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from Angela Monaghan

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