Covid savings… continue to climb in France. Estimated between 100 and 150 billion euros for the whole of 2020, all savings products combined, it is not about to fall. On the contrary: the Livret A once again records a historically high collection… and April should hardly deviate from the rule.
March 2021: record collection for the Livret A, the LDDS remains in the green
Data from the Caisse des Dépôts et Consignations, published on April 21, 2021, concerning the money that French households have deposited in their tax-free savings accounts show that savings are still on the agenda. Admittedly, in March 2021 the stores were open, but restaurants, cultural places or leisure activities remained prohibited because of Covid-19.
Result? For lack of being able to spend, the French put aside. 2.8 billion euros were thus deposited in Livrets A in March 2021, i.e. 90 million euros more than a year earlier, in March 2020. As for the LDDS (Livret de Développement Durable et Solidaire), it is also a positive collection that is recorded, at 870 million euros.
Already more than 14 billion euros saved in France in 2021
If for the Livret A collection beats a new record for the month of March, the two passbooks combined, this is not the case: 3.67 billion euros were deposited in the two passbooks in the third month of the year 2021, against… 3.98 billion euros in 2020. A little less, therefore… but the underlying trend remains the same: the French save to prepare for the worst, but also because they have no other choice.
Thus, since the beginning of 2021, 14.63 billion euros have been added to the more than 450 billion euros which, at the end of 2020, was based on the tax-free savings accounts of French households. At the end of March 2021, 462.9 billion euros were deposited in tax-free savings accounts.
As for the month of April 2021, it should be a similar situation that will experience French savings since … the third general confinement of the population, admittedly relatively lighter than those of April and November 2020, will once again have prevented the French to consume.