After several record months, the French dipped into their Livret A booklet in October

Over the month, the collection of the Livret A is largely negative, but the Sustainable and solidarity development booklet remains in the green.

Back to earth for the A booklet, after several months of record collection. In October, the French dipped more into their woolen stockings than they put money aside. The collection of the Livret A is largely negative in October with -1.1 billion euros for all the networks. Its little brother, the Sustainable and Solidarity Development Booklet (LDDS), on the other hand, remains in the green (+ 290 million euros).

October is traditionally a bad month for the livret A. It’s a time of spending, not saving. The French have spent money for the start of the school year. They must pay their property tax, for some a residue of residence tax and sometimes have to pay a catch-up income tax. “October collection is something traditional”, recalls Philippe Crevel, director of the Cercle de l’Épargne. The favorite investment of the French has only twice had a positive harvest this month: when the ceiling was raised on October 1, 2012, and in 2011, to 400 million euros.

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Moreover, the outflow this time was rather weaker than usual. “This is one of the lowest in the last ten years.“, continues Philippe Crevel.This almost confirms the trend of an exceptional year for this placement,” he continues. Galloping inflation is pushing households to save more. They put money aside to meet their future expenses. Furthermore, the increase in the Livret A rate to 2%a level of remuneration that we had not seen since 2005, gave much more appeal to this product.

The Livret A account is now doing better than the euro fund. The months of July, August and September reached record highs. Over the first ten months of the year, it totaled (Livret A + LDDS) at +29.78 billion euros. This is significantly more than in 2021 (20.64 billion) but less a little less than in 2020 when the restrictions linked to the pandemic had led to a record year for fundraising (31.73 billion euros).


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