Why has the saving ratio remained historically high in France since the end of the pandemic?

Bulletin No. 262, article 3. The sudden rise in France’s saving ratio during the pandemic can be explained by shop closures and the fact that income levels remained largely stable thanks to public support. At the end of the pandemic, a portion of these forced savings was reabsorbed, yet the saving ratio remained higher than in 2019 and even rose in 2023-24. …