2014 savings rise comes to an end

NS&I’s latest Quarterly Savings Survey has revealed that the steady rise in savings levels seen over the last year, from 7.42% of income saved in summer 2013 to 8.21% in spring 2014, came to an end in the summer. Britons are now saving 7.63% of their income each month.

Optimistic outlook as Britons feel positive about their ability to save

The current savings outlook for Great Britain is more positive than spring last year, with NS&I’s Quarterly Savings Survey showing a 2 percentage point increase in the proportion of people who feel they are more likely to save over the next three months (spring 2014 18%; spring 2013 16%). Also, the number of people less likely to save has declined from 22% in spring 2013 to 18% in spring 2014.