Report
OECD countries: The household savings rate must be prevented from rising
OECD countries currently face: Weak global trade (mainly as a result of the fall in Chinese imports), leading to weak exports; The weakness of industry, due to the stagnation in global demand for industrial products, leading to a fall in investment needs; The persistently modest level of household housing investment since the 2009 crisis . What may stimulate growth is therefore primarily household consumption, in particular of services. The risk then becomes a rise in the household savings rate, which can be seen clearly in Japan and could result from: Concern over future growth; Expectations of population ageing and a less generous pension system; The income effect arising from the very low interest rates.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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