An analysis from Statistics Sweden (SCB) shows that households' savings have increased by 974 billion kronor over the past five years.
"During the two decades prior to the pandemic, households borrowed more than they saved. Then a dramatic change occurred. Instead of living beyond their means, households slammed on the brakes", says Linus Eriksson, national economist at SCB, according to a press release.
The savings themselves have also changed over the past five years. Between 2020 and 2022, households made large deposits, approximately 200 billion kronor per year, into savings accounts. In 2023 and 2024, the deposits decreased to under 50 billion kronor per year. Instead, savings in funds increased significantly.
"Between 2023 and 2024, households net-purchased fund shares for nearly 250 billion kronor. This can be compared to fund purchases totaling 18 billion over the two preceding years", says Linus Eriksson.
