Household Saving Rate in the United States increased to 4.60 percent in January from 3.50 percent in December of 2024. This dataset provides - United States Personal Savings Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In December 2024, the personal saving rate in the United States amounted to 3.8 percent. That was slightly lower figure than a year earlier. The personal saving rate is calculated as the ratio of personal savings to disposable personal income. Within the topic of personal savings in the U.S., there are different goals and reasons for saving. What are personal savings? Saving refers to strategies of accumulating capital for future use by either not spending a part of one’s income or cutting down on certain costs. Saved money may be preserved as cash, put on a deposit account, or invested in various financial instruments. Investing usually incorporates some level of risk which means that part of the invested money can be gone. An example of a relatively safe investment would be saving bonds, such as the debt securities issued by the U.S. Department of the Treasury. Saving trends in the U.S. and abroad Looking at the personal saving rate in the United States throughout the past decades, it can be observed that savings had been decreasing until the mid-2000s, and they increased after the 2008 financial crisis. Still, the largest savings rates were reached in 2020 and 2021. The reason for that increase in the savings rate that year might be related to the measures to contain the COVID-19 pandemic. The value of personal savings in the United Kingdom has also followed a similar trend. Although events like the COVID-19 pandemic may have affect many countries in a similar way, the ability to save, as well as the average savings as a share of personal income across countries can vary significantly depending on multiple factors affecting each territory.

In 2023, personal savings amounted to 4.51 percent of the disposable income in the United States. The personal savings rate peaked in 2020, when U.S. households saved on average over 15 percent of their income. That year and in 2021, there were measures implemented to contain the spread of the COVID-19 virus which limited the ability of people to go out and spend their money, which resulted in people saving more than usual.

Savings during recessions During recessions, households often tend to increase their savings due to economic uncertainty and to compensate for any possible loss of income, which could occur, for example, in the case of falling into unemployment. For example, as seen in this statistic, the savings rate increased noticeably between 2007 and 2012, coinciding with a period of crisis. However, there are also factors that affect the amount of money that households can manage to set aside, such as inflation. Saving can be particularly difficult during periods when the inflation rate has been higher than the growth rates of wages.

Savings accounts The value of savings deposits and other checkable deposits in the U.S. amounted to roughly 11 trillion U.S. dollars in late 2023, even after a significant fall in the amount of money placed in those types of instruments. In other words, savings accounts are a type of financial asset that is very widely used among households to save money. Nevertheless, interest rates of savings’ accounts differ a lot from one financial institution to another. Some of the lesser-known online banks had the highest interest rates, while the major banks often offered lower interest rates.

This dataset provides values for PERSONAL SAVINGS reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Personal savings in the United States reached a value of 911 billion U.S. dollars in 2023, which is significantly higher than in 2022. Personal savings peaked in 2020 at nearly 2.7 trillion U.S. dollars. Those figures remained very high until 2021. The excess savings during the COVID-19 pandemic in the U.S. and other countries were the main reason for that increase, as the measures implemented to contain the spread of the virus had an impact on consumer spending.

Saving before and after the 2008 financial crisisDuring the periods of growth and certain economic stability in the pre-2008 crisis period, there were falling savings rates. People were confident the good times would stay and felt comfortable borrowing money. Credit was easily accessible and widely available, which encouraged people to spend money. However, in times of austerity, people generally tend to their private savings due to a higher economic uncertainty. That was also the case in the wake of the 2008 financial crisis. Savings and inflationThe economic climate of high inflation and rising Federal Reserve interest rates in the U.S. made it increasingly difficult to save money in 2022. Not only does inflation affect the ability of people to save, but reversely, consumer behavior also affects inflation. On the one hand, prices can increase when the production costs are higher. That can be the case, for example, when the price of West Texas Intermediate crude oil or other raw materials increases. On the other hand, when people have a lot of savings and the economy is strong, high levels of consumer demand can also increase the final price of products.

Graph and download economic data for Personal saving as a percentage of disposable personal income (A072RC1Q156SBEA) from Q1 1947 to Q4 2024 about disposable, savings, personal income, percent, personal, income, GDP, and USA.

Key information about China Gross Savings Rate

• China Gross Savings Rate was measured at 44.3% in Dec 2023, compared with 44.3% in the previous year.
• China Gross Savings Rate is updated yearly, with data available from Dec 1952 to Dec 2023, and an average rate of 44.3%.
• The data reached an all-time high of 44.3% in Dec 2010 and a record low of 16.5% in Dec 1962.
• CEIC calculates Gross Domestic Savings Rate from annual Gross Domestic Savings and annual Nominal GDP. Gross Domestic Savings is calculated as Nominal GDP less Final Consumption Expenditure. The National Bureau of Statistics provides Final Consumption Expenditure in local currency and Nominal GDP in local currency.
• In the latest reports, China GDP expanded 4.5% YoY in Mar 2023.
• China Nominal GDP reached 4,166,759.1 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 0.4% in Mar 2023.
• China GDP Per Capita reached 12,621.7 USD in Dec 2023.

The average interest rate of instant access deposits in the United Kingdom (UK) has started declining in the second half of 2024. That was after the interest rates of those products soared in 2022 and 2023, reaching 2.82 percent in January 2024. In contrast, the interest rate of instant access deposits amounted to 0.06 percent in April 2021.

Key information about India Gross Savings Rate

• India Gross Savings Rate was measured at 30.7% in Mar 2024, compared with 30.7% in the previous year.
• India Gross Savings Rate is updated yearly, with data available from Mar 1951 to Mar 2024, and an average rate of 30.7%.
• The data reached an all-time high of 30.7% in Mar 2008 and a record low of 7.9% in Mar 1954.
• CEIC calculates Gross Domestic Savings Rate from annual Gross Domestic Savings and annual Nominal GDP. Ministry of Statistics and Programme Implementation provides Gross Domestic Savings in local currency and Nominal GDP in local currency based on SNA 2008, at 2011-2012 prices. Gross Domestic Savings Rate is annual frequency, ending in March of each year.
• In the latest reports, India GDP expanded 6.1% YoY in Mar 2023.
• India Nominal GDP reached 873,666.0 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 4.1% in Mar 2023.
• India GDP Per Capita reached 2,452.2 USD in Mar 2023.

The gross national savings rate in the United Kingdom was forecast to continuously increase between 2024 and 2029 by in total 0.5 percentage points. The savings rate is estimated to amount to 14.81 percent in 2029. The savings rate here refers to the gross domestic saving by the state, private households, and corporations and is shown as a percentage of total gross domestic product (GDP).The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in more than 150 countries and regions worldwide. All input data are sourced from international institutions, national statistical offices, and trade associations. All data has been are processed to generate comparable datasets (see supplementary notes under details for more information).

Household Saving Rate in European Union decreased to 11.89 percent in the third quarter of 2024 from 18.71 percent in the second quarter of 2024. This dataset provides - European Union Personal Savings - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Japan Gross Savings Rate

• Japan Gross Savings Rate was measured at 28.8% in Mar 2022, compared with 28.8% in the previous quarter.
• Japan Gross Savings Rate is updated quarterly, with data available from Mar 1980 to Mar 2022, and an average rate of 28.8%.
• The data reached an all-time high of 28.8% in Mar 1992 and a record low of 22.9% in Mar 2014.
• CEIC calculates quarterly Gross National Savings Rate from quarterly Gross Savings and quarterly Gross National Income. Economic and Social Research Institute provides Gross Savings in local currency and Gross National Income in local currency, based on SNA 2008 with benchmark year 2015. Gross National Savings Rate prior to Q1 1994 is based on SNA 1993 with benchmark year 2000.
• In the latest reports, Japan GDP expanded 1.8% YoY in Mar 2023.
• Japan Nominal GDP reached 1,080,149.8 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 1.7% in Mar 2023.
• Japan GDP Per Capita reached 33,906.0 USD in Dec 2022.

The average for 2023 based on 14 countries was 19.06 percent. The highest value was in Algeria: 41.23 percent and the lowest value was in the Seychelles: 3.16 percent. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

Ireland: Savings as percent of GDP: The latest value from 2023 is 37 percent, an increase from 34.99 percent in 2022. In comparison, the world average is 23.44 percent, based on data from 96 countries. Historically, the average for Ireland from 2005 to 2023 is 27.31 percent. The minimum value, 15.45 percent, was reached in 2009 while the maximum of 37.11 percent was recorded in 2021.

In the first quarter of 2024, the amount of savings made by Brazilian households accounted for 16.2 percent of the country's Gross Domestic Product (GDP). In the same quarter of the previous year, the Brazilian economy had registered a household saving rate of 17.5 percent of its GDP. In turn, Brazil's capital investments represented approximately 17 percent of GDP.

Mexico Savings Accounts: Weighted Avg Rates Before Tax data was reported at 7.990 % pa in Dec 2024. This records an increase from the previous number of 6.640 % pa for Nov 2024. Mexico Savings Accounts: Weighted Avg Rates Before Tax data is updated monthly, averaging 3.560 % pa from Dec 1990 (Median) to Dec 2024, with 409 observations. The data reached an all-time high of 20.720 % pa in Dec 1990 and a record low of 0.460 % pa in Mar 2011. Mexico Savings Accounts: Weighted Avg Rates Before Tax data remains active status in CEIC and is reported by Bank of Mexico. The data is categorized under Global Database’s Mexico – Table MX.M004: Bank Instruments Interest Rates.

Libya LY: Savings Rate data was reported at 2.000 % pa in 2014. This stayed constant from the previous number of 2.000 % pa for 2013. Libya LY: Savings Rate data is updated yearly, averaging 3.500 % pa from Dec 1963 (Median) to 2014, with 47 observations. The data reached an all-time high of 6.000 % pa in 2003 and a record low of 1.896 % pa in 2010. Libya LY: Savings Rate data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Libya – Table LY.IMF.IFS: Lending, Saving and Deposit Rates: Annual.

Household Saving Rate in Sri Lanka decreased to 23.80 percent in 2023 from 25 percent in 2022. This dataset provides - Sri Lanka Households Savings Ratio - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, the highest average savings held by multi-person households in Japan were recorded among household heads aged 70 years and above, with average savings amounting to around 25 million Japanese yen. The group of household heads aged 40 to 49 years recorded the highest year-on-year increase, at 4.1 percent. At the same time, a decline of 6.7 percent was recorded in the age group 50 to 59 years.

SCE: Interest Rate Expectation: Probability of Higher Average Interest Rate on Savings Accounts 1 Year from Now data was reported at 25.357 % in Feb 2025. This records an increase from the previous number of 24.995 % for Jan 2025. SCE: Interest Rate Expectation: Probability of Higher Average Interest Rate on Savings Accounts 1 Year from Now data is updated monthly, averaging 29.855 % from Jun 2013 (Median) to Feb 2025, with 141 observations. The data reached an all-time high of 41.800 % in Mar 2017 and a record low of 24.225 % in Mar 2024. SCE: Interest Rate Expectation: Probability of Higher Average Interest Rate on Savings Accounts 1 Year from Now data remains active status in CEIC and is reported by Federal Reserve Bank of New York. The data is categorized under Global Database’s United States – Table US.H078: Survey of Consumer Expectations: Financial.