New figures from the Central Statistics Office show that the household saving rate declined from 14.5% in the first three months of 2024 to 12.7% in the second quarter.
The CSO noted that saving levels were around the same as a year ago in the second quarter of 2023, but because income has increased since then, the saving is a smaller proportion of income, and so the rate is lower.
The unadjusted saving of households was €6.7 billion, of which €3.8 billion was added to capital stocks, mainly dwellings.
The remainder was added to deposits or other financial assets or used to pay off financial liabilities such as mortgages, the CSO added.
