Household savings increased by more than 52 trillion yen in two years.

The Cabinet Office has calculated that household savings have increased by more than 52 trillion yen over the past two years.

This is equivalent to GDP = about 10% of the gross domestic product, and it seems that the background is that consumption has been suppressed due to the influence of the new corona.

The Cabinet Office has calculated how much household savings have increased compared to 2019 before the coronavirus.

According to this, the cumulative increase in savings over the two years since last year has reached 52.6 trillion yen.

This is equivalent to about 10% of GDP, and the Cabinet Office analyzes that while benefits for corona countermeasures were received, money was saved due to suppressed consumption.

Household savings during the COVID -19

pandemic have also increased significantly in Europe and the United States.

▽ The euro area is 115 trillion yen, which is about 7% of GDP.

The Cabinet Office said, ``Amid concerns about a decrease in income due to rising prices due to the situation in Ukraine and other factors, attention will be paid to whether the increased savings due to the corona crisis will support consumption.''