Pantheon Macroeconomics

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1st Jul 2022 14:53U.K., Daily Monitor, Weekly Monitor

Households have not saved sufficiently less in Q2 to offset the hit to spending from the huge real income drop.

The high level of ad-hoc mortgage and unsecured debt repayments shows households remain cautious.

Households usually slash their saving rate when total financial wealth is growing quickly; it is barely rising now.

consumer credit credit credit data deposits energy July May money and credit data mortgage mortgage debt net increase pension q2 recession savings technical recession

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Keywords for: Households' Didn't Reduce their Saving Enough in Q2 to Stop Spending Falling

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