By the end of the lockdown, the wealthiest households did not necessarily catch up with expenses related to travel, culture and recreation.
Conversely, the most modest households have tended to go into debt, according to a study published by the Economic Analysis Council.
For some economists, spending the savings that the French put aside during containment would limit the impact of the economic crisis.
Because more than 86 billion euros were saved by the French between March and August 2020, indicate the figures of the Banque de France.
However, according to a study published Monday by the Economic Analysis Council, a body responsible for enlightening Matignon, 70% of this savings comes from 20% of the wealthiest households.
Money that neither consumed nor invested
The Economic Analysis Council was able to make this observation after having had anonymous access to Crédit Mutuel bank card data.
These data show that after containment, there was a catch-up on purchases of the automobile, furniture or household appliances type, but not on travel, culture or leisure in the broad sense.
There is therefore still significant savings which for the moment are neither consumed nor invested, since they are sleeping on current accounts.
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The Economic Analysis Council calls for additional aid for low-income households
This analysis also shows that, on the contrary, the 20% of the poorest households did not save, and that they even had to go into debt during this period.
In conclusion, the Economic Analysis Council is calling on the executive to put in place much more frank support for these households, also more exposed to the economic consequences of Covid-19.