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.

The overall value of household savings in the United States decreased a lot in 2023, after it reached values of well over two trillion U.S. dollars in 2020 and 2021. Household savings peaked in 2020, when they amounted to 2.7 trillion U.S. dollars, which was a very strong increase compared to the previous year. The personal savings as a share of disposable income in the U.S. also peaked in 2020 and 2021.

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.

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.

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.

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.

Graph and download economic data for Net private saving: Households and institutions (W986RC1A027NBEA) from 1929 to 2024 about savings, Net, households, private, GDP, and USA.

Household Saving Rate In the Euro Area decreased to 15.22 percent in the third quarter of 2024 from 15.57 percent in the second quarter of 2024. This dataset provides the latest reported value for - Euro Area Personal Savings - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

China Household Savings Deposits Rate: Time: 1 Year data was reported at 1.500 % pa in 26 Mar 2025. This stayed constant from the previous number of 1.500 % pa for 25 Mar 2025. China Household Savings Deposits Rate: Time: 1 Year data is updated daily, averaging 1.500 % pa from Sep 1988 (Median) to 26 Mar 2025, with 13356 observations. The data reached an all-time high of 2.500 % pa in 10 May 2015 and a record low of 1.500 % pa in 26 Mar 2025. China Household Savings Deposits Rate: Time: 1 Year data remains active status in CEIC and is reported by The People's Bank of China. The data is categorized under High Frequency Database’s Deposit Rates – Table CN.MB: Saving Deposit Rate.

Graph and download economic data for Gross private saving: Households and institutions (W998RC1A027NBEA) from 1960 to 2024 about savings, gross, households, private, GDP, and USA.

Household Saving Rate in Czech Republic decreased to 17.20 percent in the third quarter of 2024 from 17.40 percent in the second quarter of 2024. This dataset provides - Czech Republic Personal and Households Deposits - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

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.

Household Saving Rate in Estonia increased to 3.10 percent in 2023 from 2.83 percent in 2022. This dataset provides - Estonia Gross Household Saving Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Household Saving Rate in Slovenia increased to 22.49 percent in the first quarter of 2024 from 10.78 percent in the fourth quarter of 2023. This dataset provides - Slovenia Gross Household Saving Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Household Saving Rate in Italy decreased to 9.20 percent in the third quarter of 2024 from 10 percent in the second quarter of 2024. This dataset provides the latest reported value for - Italy Personal Savings - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

China Deposit: New Increased: Year to Date: Household Saving data was reported at 6,130.000 RMB bn in Feb 2025. This records an increase from the previous number of 5,520.000 RMB bn for Jan 2025. China Deposit: New Increased: Year to Date: Household Saving data is updated monthly, averaging 3,860.000 RMB bn from Dec 2004 (Median) to Feb 2025, with 213 observations. The data reached an all-time high of 17,840.000 RMB bn in Dec 2022 and a record low of 24.900 RMB bn in Jan 2007. China Deposit: New Increased: Year to Date: Household Saving data remains active status in CEIC and is reported by The People's Bank of China. The data is categorized under China Premium Database’s Money and Banking – Table CN.KB: Deposit.

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.

Household Saving Rate in Portugal increased to 10.70 percent in the third quarter of 2024 from 10.10 percent in the second quarter of 2024. This dataset provides - Portugal Gross Household Saving Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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