Britons Saving at the Slowest Pace Since Financial Crisis: Chart

(Bloomberg) -- U.K. consumers have cut the pace at which they save to the slowest since the height of the financial crisis in 2008, according to data released on Friday. The household saving ratio, which shows how much of their disposable income Britons squirrel away, fell to 5.1 percent in the second quarter from 5.6 percent in the previous three months. Along with historically high debt levels, the inability to support spending by reducing the savings rate further may weaken household spending next year as accelerating inflation erodes Britons' finances.

--With assistance from Harumi Ichikura

To contact the reporter on this story: Scott Hamilton in London at shamilton8@bloomberg.net.

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