Irish households saved billions during lockdown, so how will it be spent?

Figures from the CSO show that for some periods over the past 16 months, excess savings were four times what they were pre Covid

The strict lockdowns imposed over the past 16 months have lead to a surge in household savings. Picture: Andy Gibson.

More than 500 days into the global Covid pandemic, one of the most striking features from an economic perspective is the huge amount of savings generated by households in Ireland.

Relatively strong income supports put in place by the Government were put in place at the exact same moment that most avenues for consumer spending were cut off with strict lockdowns forcing the population to remain at home save for trips to the supermarket.