"While consumers have clearly been less affected by Brexit uncertainties than businesses, the overall impression remains that they have become relatively careful in their borrowing amid concerns over the economic outlook while the very low household
savings ratio discourages further dissaving," said Howard Archer, chief economic adviser to the EY Item Club.
If you cannot do 10% immediately start with what you can and increase gradually.Meanwhile look out for ways to reduce your expenses and increase your
savings ratio e.g.
The gross
savings ratio fell 1.4 percentage points to 34.8 per cent last year, hitting the lowest percentage in four years, while the country's gross domestic investment ratio edged down 0.8 percentage point to 30.4 per cent last year.
IN an underdeveloped country like Pakistan the importance of savings is critical, but owing to the high cost of living, where people can hardly make the two ends meet, the
savings ratio is dismal.
He said national
savings ratio is 10 percent of GDP which needs to be enhanced.'
Slow real wage growth and a low
savings ratio make UK households especially sensitive to changing employment or economic conditions, although Fitch-rated ABS would have substantial headroom to absorb any performance deterioration without ratings being affected.
The report concludes that though the mortgage accounts for more than 60% of the total household debt, a low default rate along with a high household
savings ratio will reduce its risk to the economy.
He added: "The fact that for the first time ad in 30 years households are net bor-rowers, while the
savings ratio is at its lowest since records began, should set off alarm bells in the Treasury.
The ONS said only 1.7% of household income was left unspent in the first quarter of 2017, the lowest
savings ratio since comparable records began in 1963.
The
savings ratio also sank to 1.7% in the first quarter, down from 3.3% in the final three months of last year and hitting its lowest level since records began more than 50 years ago.
Qatar's ranking was positively impacted by a number of factors, including: strong economic performance represented by low unemployment rate, high fixed capital formation ratio of GDP, domestic
savings ratio of GDP, trade balance ratio of GDP, and overall productivity increase.