Between July and September, Brazilians saved the equivalent of nearly a quarter of all the wealth produced in the country during the period.
A study by the Brazilian Institute of Geography and Statistics (IBGE) shows that the economy’s savings rate in the third quarter of the year amounted to 24.5% of the Gross Domestic Product (GDP).
Last year’s third quarter rate was 25.4% of the GDP. Despite the drop, the figure for this year’s third quarter is still the second best result since 1995, when the IBGE began its Quarterly National Accounts series. It is only surpassed by last year’s figure.
Maria Laura Muanis, an economist at the IBGE, thinks that the country’s savings have reached a high plateau.
"All the economic actors, such as families and the government, are saving more," she added.