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The saving rate of Portuguese families has slightly increased at the end of last year to fall in early 2017. In the case of investment made by the Portuguese, there is a reverse movement. It has increased, thanks to increased access to information.
According to Pdro Amorim, of XTB, "the profile of Portuguese investment is very conservative, however, it has decreased its risk aversion over time." The increase in financial literacy and l 39; Providing various products have helped decrease aversion.When we have customers more aware of the types of risks that they run. "
Looking at the data referring to the 39, Portuguese savings can be said only in the first quarter of the year. According to Pedro Amorim, it is increasingly common to see that the largest savings are made by families with the highest incomes. In the case of low income people, negative savings levels are recorded.
The National Institute of Statistics (INE) has already revealed that the financing capacity of Portuguese households has fallen to 1.3% of gross domestic product (GDP).
We must see that the analysis must be made on the basis of two important hypotheses. On the one hand, the low savings rate is a good indicator for the economy, since it is synonymous with consumption and increased business development. But it should also be noted that this may lead to increased imports.
"We can have an increase in savings rates if a new crisis occurs in the coming times, with increased fear and difficulty in accessing credit." However, low disposable income has been The level of income is still at the same level as in 2007-2008, that is, we are living a lost decade in development.High house access prices in the big cities have hindered the performance of disposable income, "adds Pedro Amorim.
Forum for Competitiveness The Competitiveness Forum also addressed the issue of savings in the May cycle. In the first quarter of the year, the "household savings rate went from 5.3% to 5.1%", a value very "close to 4.6%" in the third quarter of 2017 and "Far from the maximum of 12%". "
According to the authors of the working paper," a low savings is a drag on a more substantial increase in investment, "an" essential part of GDP growth and a productivity more intense. "[19659002] It is also important to remember that there has been an increase in consumer credit.In March, according to data from the Banco de Portugal, 659.3 million euros were granted.
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