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.

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.

United States - Personal Saving Rate was 4.60% in January of 2025, according to the United States Federal Reserve. Historically, United States - Personal Saving Rate reached a record high of 32.00 in April of 2020 and a record low of 1.40 in July of 2005. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Personal Saving Rate - last updated from the United States Federal Reserve on March of 2025.

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 households' saving rate is the ratio between the gross saving and the adjusted gross disposable income. Favorable economic conditions encourage higher spending, leading to a consequent drop in the savings rates. Between 2016 and 2023, the saving rate of Italian households stood stable at about ten percent. However, in 2020 it reached 17.4 percent due to an uncertain economic situation brought in by the COVID-19 pandemic, leading to a more precautionary behavior among consumers, that resulted in a higher saving rate. From 2024 on, the saving rate is forecasted to reach twelve percent of the adjusted gross disposable income.

Singapore Personal Saving Rate: sa data was reported at 35.300 % in Dec 2024. This records an increase from the previous number of 33.500 % for Sep 2024. Singapore Personal Saving Rate: sa data is updated quarterly, averaging 21.400 % from Mar 1980 (Median) to Dec 2024, with 180 observations. The data reached an all-time high of 55.700 % in Jun 2020 and a record low of 6.700 % in Sep 1988. Singapore Personal Saving Rate: sa data remains active status in CEIC and is reported by Singapore Department of Statistics. The data is categorized under Global Database’s Singapore – Table SG.A089: Personal Disposable Income and Personal Saving: Current Prices: Seasonally Adjusted.

Quarterly current and capital accounts for the household sector, including property income, disposable income, net saving and net lending, Canada.

Graph and download economic data for Net saving as a percentage of gross national income (W207RC1Q156SBEA) from Q1 1947 to Q3 2024 about national income, GNI, savings, gross, Net, percent, income, GDP, and USA.

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.

Ireland - Household saving rate was 13.52% in June of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Ireland - Household saving rate - last updated from the EUROSTAT on March of 2025. Historically, Ireland - Household saving rate reached a record high of 32.53% in June of 2020 and a record low of 10.55% in September of 2019.

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.

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.

According to the OECD, household gross savings rate compares the savings activities and consumption activities of households. It is an indicator of the financial security in bad times, for example, job loss. The household gross savings rate measures how much households are saving from their current income, but also what is added to the net wealth of a household to fund their future.It is likely that household saving rates increase during periods of economic uncertainty, as purchases are deferred from many non-essential goods and services. Household savings are often the main domestic source of funds to finance investments in the decrease in liabilities or financial assets. In Poland, the household gross savings rate fluctuated in the observed period. As of the first quarter of 2024, the household gross savings rate amounted to 4.92 percent.

Key information about Yemen Gross Savings Rate

• Yemen Gross Savings Rate was measured at 9.5% in Dec 2017, compared with 9.5% in the previous year.
• Yemen Gross Savings Rate is updated yearly, with data available from Dec 1990 to Dec 2017, and an average rate of 9.5%.
• The data reached an all-time high of 9.5% in Dec 1990 and a record low of 0.2% in Dec 2015.
• CEIC calculates Gross National Savings Rate from annual Gross National Savings and annual Gross National Product. Gross National Savings is calculated as Gross National Product less Final Consumption Expenditure plus Net Current Transfers. Central Statistical Organization provides Gross National Product, Final Consumption Expenditure and Net Current Transfers in local currency.
• In the latest reports, Yemen GDP contracted 10.0% YoY in Dec 2017.
• Yemen Nominal GDP reached 34,714.0 USD mn in Dec 2013. Its GDP deflator (implicit price deflator) increased 8.4% in Dec 2017.
• Yemen GDP Per Capita reached 736.2 USD in Dec 2017.

Key information about Morocco Gross Savings Rate

• Morocco Gross Savings Rate was measured at 28.6% in Dec 2023, compared with 28.6% in the previous year.
• Morocco Gross Savings Rate is updated yearly, with data available from Dec 1975 to Dec 2023, and an average rate of 28.6%.
• The data reached an all-time high of 28.6% in Dec 2008 and a record low of 15.0% in Dec 1976.
• CEIC calculates Gross National Savings Rate from annual Gross National Savings and annual Gross National Income. Gross National Income is calculated as Gross National Disposable Income less Net Current Transfers from Rest of World. High Commission for Planning provides Gross National Savings, Gross National Disposable Income and Net Current Transfers in local currency, based on SNA 2008. Gross National Savings Rate prior to 2007 is based on SNA 1993 and prior to 1998 is sourced from the World Bank.
• In the latest reports, Morocco GDP expanded 3.5% YoY in Mar 2023.
• Morocco Nominal GDP reached 33,768.2 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 5.2% in Mar 2023.
• Morocco GDP Per Capita reached 3,570.0 USD in Dec 2022.

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.