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.

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.

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.

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.

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.

Among the ten largest economies worldwide, China was by far the one with the highest savings rate in 2021. Meanwhile, gross savings in the United States amounted to slightly over 18 percent of its gross domestic product (GDP). Within this group of countries, the United Kingdom was the one with the lowest savings rate at nearly 16 percent. The rest of the countries in the list saved between 17 and 31 of their GDP.

In 2019, the household savings rates in these selected developed countries ranged from 0.4 percent of disposable income in Finland to 17.9 percent in Switzerland. In 2020, the coronavirus (COVID-19) outbreak and lockdowns implemented by governments led to an increase in the savings rate worldwide, due to reduced consumption expenditure.

Why do people save?

Savings behavior differs from country, as shown in this statistic. In the United States, most people save for unexpected expenses or retirement. In countries such as Finland, the savings rate may be lower because retirees can rely on generous pension funds. Other reasons that households save include vacation, educational expenses, and home purchase.

Factors that affect saving

High inflation leads to lower household savings. The projected increase in prices means that people would rather buy immediately, because saving and buying later means paying a higher price. As such, countries with an inflation rate are less likely to have a high savings rate. Other factors include a cultural disposition towards saving mechanisms, such as the emphasis on home ownership seen in the United States.

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 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.

Key information about Jordan Gross Savings Rate

• Jordan Gross Savings Rate was measured at 3.0% in Dec 2023, compared with 3.0% in the previous year.
• Jordan Gross Savings Rate is updated yearly, with data available from Dec 1963 to Dec 2023, and an average rate of 3.0%.
• The data reached an all-time high of 3.0% in Dec 2010 and a record low of -54.8% in Dec 1963.
• CEIC calculates annual 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. Final Consumption Expenditure is the sum of Private Consumption Expenditure and Government Consumption Expenditure. The International Monetary Fund provides Private and Government Consumption Expenditure in local currency and Nominal GDP in local currency.
• In the latest reports, Jordan GDP expanded 2.8% YoY in Mar 2023.
• Jordan Nominal GDP reached 11,474.4 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 2.2% in Mar 2023.
• Jordan GDP Per Capita reached 4,204.4 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.

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.

Denmark - Household saving rate was 10.36% in September of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Denmark - Household saving rate - last updated from the EUROSTAT on March of 2025. Historically, Denmark - Household saving rate reached a record high of 17.02% in June of 2020 and a record low of 3.98% in June of 2021.

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.

Key information about Sweden Gross Savings Rate

• Sweden Gross Savings Rate was measured at 30.2% in Dec 2024, compared with 30.2% in the previous quarter.
• Sweden Gross Savings Rate is updated quarterly, with data available from Mar 1980 to Dec 2024, and an average rate of 30.2%.
• The data reached an all-time high of 30.2% in Dec 2021 and a record low of 19.8% in Sep 1982.
• CEIC calculates Gross Domestic Savings Rate from quarterly Gross Domestic Savings and quarterly Nominal GDP. Gross Domestic Savings is calculated as Nominal GDP less Final Consumption Expenditure. Statistics Sweden provides Final Consumption Expenditure in local currency and Nominal GDP in local currency.
• In the latest reports, Sweden GDP expanded 0.8% YoY in Mar 2023.
• Sweden Nominal GDP reached 145,310.7 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 7.9% in Mar 2023.
• Sweden GDP Per Capita reached 61,413.2 USD in Dec 2021.

In 2025, households from the United Kingdom (UK) are expected to save over nine percent of their disposable incomes. This savings rate fluctuated significantly since 2007, with the lowest figures recorded in 2018 at five percent. In 2020, due to the coronavirus (COVID-19) outbreak and resulting lockdowns, savings rates spiked across the world. In the UK, savings rate reached roughly 16 percent that year, more than three times higher than in the previous year.

Key information about Chile Gross Savings Rate

• Chile Gross Savings Rate was measured at 20.7% in Sep 2024, compared with 20.7% in the previous quarter.
• Chile Gross Savings Rate is updated quarterly, with data available from Mar 1996 to Sep 2024, and an average rate of 20.7%.
• The data reached an all-time high of 20.7% in Mar 2007 and a record low of 14.8% in Jun 2022.
• CEIC calculates Gross National Savings Rate from quarterly Gross National Savings and quarterly Gross National Product. The Central Bank of Chile provides Gross National Savings in local currency and Gross National Product in local currency, both based on SNA 2008 with benchmark year 2018.
• In the latest reports, Chile GDP contracted 0.7% YoY in Mar 2023.
• Chile Nominal GDP reached 86,429.5 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 10.1% in Mar 2023.
• Chile GDP Per Capita reached 15,158.3 USD in Dec 2022.

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.

Colombia and Bolivia were some of the Latin American countries with the lowest savings rate in 2021. Meanwhile, gross savings in Chile amounted to slightly roughly 18.7 percent of its gross domestic product (GDP), while in the case of Brazil, it amounted to 17.4 percent. The countries with the highest gross savings to GDP ratio were Jamaica, Panama, and the Dominican Republic.