Deloitte: Savings are surging again, which will bolster economy

Deloitte has done a good job quantifying the boom in household savings during the current lockdowns across NSW, Victoria and the ACT. Deloitte contends that the savings war chest will provide the economy with a strong consumption bounce once lockdowns end:

The latest data released by APRA indicates households are likely to have a hefty pool of savings to spend when restrictions ease. Once again, household deposits have jumped during the current lockdown, continuing a familiar story since the onset of the pandemic.

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