The deposits of Spanish households and companies grew by 5.4% in the interannual rate in July

MADRID, 26 Ago. (EUROPA PRESS) -

The set of deposits from households and companies residing in Spain stood at 1,309 billion euros in July, which represents a decrease of 0.25% compared to the previous month, but an increase of 5.38% compared to a year ago. year, according to provisional data from the Bank of Spain.

Family savings have already chained eleven consecutive months of increases and grew by 0.24% between July and June, reaching 997.4 billion euros, while the increase was 5.78% compared to July 2021.

For their part, company deposits fell by 1.8% in the month and stood at 312,000 million euros. Compared to a year earlier, deposits from non-financial corporations increased by 5.97%.

The deposits of all residents in Spain were placed at 1.623 billion euros in the seventh month of the year, which represents a decrease of 0.61% compared to the previous month and an increase of 3.53% compared to a year before.

The amount of deposits from residents in Spain plus those abroad stood at 1.696 trillion euros in July, which represents a monthly decline of 0.69% and a year-on-year increase of 4.52%.

Companies and families shot up their savings after the outbreak of the coronavirus pandemic in March 2020, as a result of the restrictions to contain and spread the disease and greater prudence in the face of the uncertainty generated.

As explained by the Bank of Spain in its latest annual report, the household savings rate remained above its pre-pandemic level in 2021, despite the gradual decrease in uncertainty about the health situation and the progressive lifting restrictions, possibly due to a "precautionary" component, in a context in which uncertainty has remained high.

Throughout 2022, the volume of deposits has continued to increase, in a context marked by the war between Ukraine and Russia, escalating inflation and fears of an economic slowdown.

According to data compiled by Europa Press, deposits from companies and households were 18.63% higher in May than in February 2020, before the outbreak of Covid-19, which represents an increase of 205,707 million euros.

The bulk of the savings since the pandemic began has been concentrated by families, who have seen their deposits grow by 145,461 million euros, 17.07% more. On their side, company deposits are 23.93% higher than pre-pandemic levels, with an increase of 60,246 million euros.