Covid savings: Britain built up second highest level on record in early 2021
by Richard Partington Economics correspondent from Economics | The Guardian on (#5KPXT)
Limited opportunities to spend could pave way for boom as restrictions relax, say economists
British households built up their savings to the second highest level on record at the start of the year as the Covid-19 lockdown limited opportunities to spend, according to official figures.
In a development economists said could pave the way for a boom in spending as pandemic restrictions are relaxed, the Office for National Statistics said household savings rose sharply in the three months to the end of March as the third national lockdown constrained spending.
Related: UK economy surges but analysts warn boom could be short-lived
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