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London, England, United Kingdom (AHN) – More Britons are savings larger amounts of money, according to the survey of National Savings & Investments released Monday. The study attributed the growing savings habits of Britons to fears of unemployment.

According to the annual savings survey, 52 percent of the country’s population saves money. It is the first time in two years when more than half of the country’s population said they committed to saving regularly.

The average monthly savings of Britons grew to $131.05 (87.37 pounds) from $127.82 (85.21) in the last quarter. As a percentage of their income, the savings level was a 6.98 percent, which is also a two-year record high.

The NS&I survey differs from an Office of National Statistics study released last month that the savings ratio of Britons over their earnings went down to 3.2 percent from 5.5 percent, which is the lowest level in seven quarters.

The NS&I study confirmed what the Bank of England has been complaining that many Britons are saving, instead of spending, which would stimulate the recovering British economy.

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