U.K. Households Amass Over $220 Billion of Excess Savings

(Bloomberg) -- U.K. households continued to amass money on deposit in the second quarter, taking their excess savings since the pandemic began to around 166 billion pounds ($223 billion), official figures published Thursday show. If unleashed, the cash pile could fuel a consumer boom. However, there are few signs that Britons are spending freely just yet as rising inflation and the ending of pandemic-era support programs threaten to erode living standards.

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