HOUSEHOLDS saved an additional €28bn last year.
This was €14bn more than in the previous year as opportunities to spend were severely limited by the lockdowns.
New figures from the Central Statistics Office (CSO) show that households went from putting 12pc of their disposable income into savings to putting 23pc of their income aside.
Higher incomes for those fortunate to be able to work from home combined with the restricted spending opportunities to send savings levels surging.
The CSO said: “The uncertainty around the trajectory of the pandemic may also have induced ‘precautionary savings’ as households kept money back, anticipating tightening finances in the future.”