Irish households saved €61 million every day in January

Irish households have increased their savings by an extra €1.9bn

Household deposits have reached another record high of €126.4bn continuing a trend that began almost 12 months ago when Covid-19 restrictions came into effect.

Bank deposits surged again in January with Irish households increasing their savings by an extra €1.9bn or €61m every day.

Level 5 restrictions further reduced consumer spending while commercial lending recorded a sharp decrease.