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Thursday 19 October 2017

Households save 12.3pc of income

IRISH householders are putting away more than ever, representing almost one-eighth of their total disposable income.

The net savings rate of 12.3pc represented a massive increase on 2008, when just 3.9pc of disposable income was saved. In 2007, the figure was zero.

Net household savings exceeded €11bn last year -- by far the highest level recorded since such figures were first compiled in 2002.

Ireland has now surged past the European average last year in terms of the amount put by for a rainy day.

In contrast in 2007, Ireland's gross household savings rate was the lowest of any eurozone state for which figures are available.

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