In the United Kingdom, the household gross savings rate dropped to 8.3 percent in the third quarter of 2021, the lowest rate since the start of the COVID-19 pandemic. During the period considered, households saved between four and 23 percent of disposable income. The gross savings rate in Spain has followed similar trends as in the United Kingdom, as both countries had relatively low figures, which increased very significantly after the outbreak of the COVID-19.
Household gross savings as a share of disposable income in the United Kingdom (UK) from 1st quarter 2007 to 3rd quarter 2021
The source added the following information "Saving can be calculated on a gross or a net basis depending on the definition of household disposable income that is used. Gross disposable income is calculated before the deduction of depreciation (consumption of fixed capital in national accounts terms), while net disposable income is calculated by deducting depreciation from gross disposable income.
The household gross savings rate is calculated as the ratio of household gross savings to household gross disposable income plus the change in pension entitlements. The rates vary considerably across countries because of institutional, demographic, and socio-economic differences. For example, the government provision of old-age pensions or demographic age structure of the population will influence the rate at which populations save.'
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OECD. (February 7, 2022). Household gross savings as a share of disposable income in the United Kingdom (UK) from 1st quarter 2007 to 3rd quarter 2021 [Graph]. In Statista. Retrieved October 02, 2024, from https://www.statista.com/statistics/1192056/household-gross-savings-rate-uk/
OECD. "Household gross savings as a share of disposable income in the United Kingdom (UK) from 1st quarter 2007 to 3rd quarter 2021." Chart. February 7, 2022. Statista. Accessed October 02, 2024. https://www.statista.com/statistics/1192056/household-gross-savings-rate-uk/
OECD. (2022). Household gross savings as a share of disposable income in the United Kingdom (UK) from 1st quarter 2007 to 3rd quarter 2021. Statista. Statista Inc.. Accessed: October 02, 2024. https://www.statista.com/statistics/1192056/household-gross-savings-rate-uk/
OECD. "Household Gross Savings as a Share of Disposable Income in The United Kingdom (Uk) from 1st Quarter 2007 to 3rd Quarter 2021." Statista, Statista Inc., 7 Feb 2022, https://www.statista.com/statistics/1192056/household-gross-savings-rate-uk/
OECD, Household gross savings as a share of disposable income in the United Kingdom (UK) from 1st quarter 2007 to 3rd quarter 2021 Statista, https://www.statista.com/statistics/1192056/household-gross-savings-rate-uk/ (last visited October 02, 2024)
Household gross savings as a share of disposable income in the United Kingdom (UK) from 1st quarter 2007 to 3rd quarter 2021 [Graph], OECD, February 7, 2022. [Online]. Available: https://www.statista.com/statistics/1192056/household-gross-savings-rate-uk/
