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Global savers’ $5.4 trillion stockpile offers hope for post-COVID spending

Households around the globe accumulated the excess by the end of the first quarter of this year, according to estimates by Moody’s

©The Financial Times Limited 2020 Apr 19, 2021 / 09:18 AM IST
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Global savers’ $5.4 trillion stockpile offers hope for post-COVID spending

Representative image (Image: AP)

Valentina Romei in London Consumers around the world have stockpiled an extra $5.4tn of savings since the coronavirus pandemic began and are becoming increasingly confident about the economic outlook, paving the way for a strong rebound in spending as businesses reopen. Households around the globe accumulated the excess — defined as the additional savings compared with the 2019 spending pattern and equating to more than 6 per cent of global gross domestic product — by the end of the first quarter...

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