The impact of the COVID-19 pandemic on household consumption and savings

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The EU household saving rate continued with a large year-over-year increase in the fourth quarter of 2020, climbing +6.6 percentage points (pp) higher than it was one year ago.

The main reason for the year-on-year increase is that household final consumption expenditure was 7.0% lower in the EU than it was one year ago.

Source: 
Eurostat, 10 May 2021