Insurance company Euler Hermes in a new report (there is at the disposal of “tapes.ru”) predicted European Consumer Consumer Booms.
According to the authors, it will happen due to excess savings accumulated by households of the eurozone countries during the coronavirus pandemic, which in turn will lead to increased demand for goods and services. In 2020, accumulations increased by more than 50 percent, and their overweight is estimated at 450 billion euros.
170 billion euros can already be spent on goods and services in the near future. This amount is 1.5 percent of the EUROSONE GDP.
In addition to the enhanced savings caused by restrictions in the field of services, elevated savings were due to the measures of support from the authorities: Programs for the conservation of employment, tax cuts, providing subsidies to enterprises and citizens.
According to financade estimates, two-thirds of redundant savings are stored on current bank accounts and deposits, the remaining funds are invested in securities.