More than half of global consumers didn't save during pandemic: Survey

Just 13% used them to fund holidays and social events since restrictions lifted, and 19% used the money for home improvements or moving house

More than half of consumers in major economies didn’t build up their savings during the pandemic, a survey shows.
 

The research in 18 nations by YouGov Plc, shared exclusively with Bloomberg News. punctures the idea that households have a cushion against a deepening cost of living crisis.

YouGov said 51% of respondents failed to add to their savings during the pandemic. The rate was lowest for Germany, at 39%, while Italy’s figure was just 40%. The US, UK and Canada also saw results below 50%.

The survey covers 20,000 adults across 18 countries and undercuts hopes