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Ash4781

Uk Household Savings At 48-year Low

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http://www.ireland.com/newspaper/breaking/.../breaking54.htm

UK household savings at 48-year low

The proportion of money set aside by UK households last year slumped to its lowest level since 1959, official figures showed today.

The household savings ratio fell to just 2.9 per cent last year, despite a slight pick-up to 3.3 per cent in the fourth quarter from 2.6 per cent as household disposable income growth out-stripped consumer spending.

Figures from the Office for National Statistics also confirmed that although quarterly UK GDP stood at 0.6 per cent in the final three months of the year, lower-than-expected third-quarter growth pushed the overall rate for 2007 down to 3 per cent.

The downward revision from the previous estimate of 3.1 per cent is thought to be at odds with the Bank of England’s expectations for a possible move up from 3 per cent.

Analysts said the figures fuelled fears that UK growth will slow sharply from this year and may strengthen the case for an interest rate cut soon.

Household spending rose by 0.1 per cent in the last quarter of 2007, down from 0.8 per cent in the third quarter, as consumer goods spending fell from 1.7 per cent to 0.3 per cent.

© 2008 ireland.com

Oh yes re-balancing ;) .

:lol: and some dodgy GDP numbers

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I am a little surprised this ratio has fallen, I was expecting it to increase.

It just shows as a nation we have no cousin whatsoever if things took a serious downturn.

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I am a little surprised this ratio has fallen, I was expecting it to increase.

It just shows as a nation we have no cousin whatsoever if things took a serious downturn.

What's my cousin got to do with things? :blink:

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  • 295 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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