Households have saved an extra $5.4 trillion over the past year, according to a report by Moody's Analytics. Spending on items like travel and restaurants plummeted during the Covid-19 pandemic, while many people's incomes were maintained by government aid. As some economies begin to lift restrictions, will consumers spend their savings and what sort of effect could it have on the global economy? How should governments react to the spending splurge? We discuss the potential benefits and pitfalls with Gilles Moëc, chief economist at Axa Group.

Subscribe to France 24 now:
http://f24.my/youtubeEN

FRANCE 24 live news stream: all the latest news 24/7
http://f24.my/YTliveEN

Visit our website:
http://www.france24.com

Subscribe to our YouTube channel:
http://f24.my/youtubeEN

Like us on Facebook:
https://www.facebook.com/FRANCE24.English

Follow us on Twitter:
https://twitter.com/France24_en