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.

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.

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.

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).

The gross national savings rate in Russia was forecast to continuously increase between 2024 and 2029 by in total 1.3 percentage points. According to this forecast, in 2029, the savings rate will have increased for the fifth consecutive year to 28.95 percent. 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).

Key information about Denmark Gross Savings Rate

• Denmark Gross Savings Rate was measured at 34.9% in Dec 2024, compared with 34.9% in the previous quarter.
• Denmark Gross Savings Rate is updated quarterly, with data available from Mar 1990 to Dec 2024, and an average rate of 34.9%.
• The data reached an all-time high of 34.9% in Sep 2022 and a record low of 17.1% in Dec 1993.
• CEIC calculates Gross National Savings Rate from quarterly Gross National Savings and quarterly Gross National Income. Statistics Denmark provides Gross National Savings in local currency and Gross National Income in local currency.
• In the latest reports, Denmark GDP expanded 1.7% YoY in Mar 2023.
• Denmark Nominal GDP reached 102,023.3 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 1.9% in Mar 2023.
• Denmark GDP Per Capita reached 67,743.6 USD in Dec 2022.

In 2023, the average annual savings rate of households in Taiwan stood at 24.23 percent. This means that on average every household or household member did not spend this share of their disposable income for consumption purposes but saved it for future use. The savings rate increased considerably in 2020.

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 Switzerland Gross Savings Rate

• Switzerland Gross Savings Rate was measured at 31.7% in Dec 2024, compared with 31.7% in the previous quarter.
• Switzerland Gross Savings Rate is updated quarterly, with data available from Mar 1990 to Dec 2024, and an average rate of 31.7%.
• The data reached an all-time high of 31.7% in Dec 2006 and a record low of 24.3% in Dec 2020.
• CEIC calculates quarterly Gross National Savings Rate from quarterly Gross National Savings and quarterly Gross National Income. Gross National Savings is calculated as Gross National Disposable Income less Final Consumption Expenditure. State Secretariat for Economic Affairs provides Gross National Income, Gross National Disposable Income and Final Consumption Expenditure in local currency.
• In the latest reports, Switzerland GDP expanded 0.7% YoY in Mar 2023.
• Switzerland Nominal GDP reached 213,316.3 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 3.1% in Mar 2023.
• Switzerland GDP Per Capita reached 91,640.9 USD in Dec 2021.

The gross national savings in Costa Rica were forecast to continuously increase between 2024 and 2029 by in total 3.8 percentage points. According to this forecast, in 2029, the savings will have increased for the sixth consecutive year to 17.67 percent. Find more key insights for the gross national savings in countries like Guatemala, Belize, and Nicaragua.

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.

The household saving ratio in Japan was estimated at 3.9 percent in the third quarter of 2024. The ratio peaked in the second quarter of 2020, reaching 21.2 percent amid the coronavirus pandemic. The saving ratio is the proportion of savings to disposable income.

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.

In the observed period, the gross national saving rate in Czechia reached its peak in 2023 at 31.3 percent. The second highest value observed was in 1995 with 30.6 percent.

Key information about Singapore Gross Savings Rate

• Singapore Gross Savings Rate was measured at 47.5% in Dec 2024, compared with 47.5% in the previous year.
• Singapore Gross Savings Rate is updated yearly, with data available from Dec 1960 to Dec 2024, and an average rate of 47.5%.
• The data reached an all-time high of 47.5% in Dec 1997 and a record low of -2.1% in Dec 1960.
• CEIC calculates Gross National Savings Rate from annual Gross National Savings and annual Gross National Income. The Singapore Department of Statistics provides Gross National Savings in local currency and Gross National Income in local currency.
• In the latest reports, Singapore GDP expanded 0.4% YoY in Mar 2023.
• Singapore Nominal GDP reached 120,606.6 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) fell 0.0% in Mar 2023.
• Singapore GDP Per Capita reached 90,689.0 USD in Dec 2024.

The gross savings of the United States represented over 18 percent of its GDP in 2021. Despite some fluctuations, the savings rate was on a downward trend until 2009. In 2015, the gross savings rate reached its highest value since 1998. The value of gross savings as a share of the GDP has fallen in 2021.

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.

The gross national savings in Bolivia were forecast to decrease between 2024 and 2029 by in total 0.2 percentage points. This overall decrease does not happen continuously, notably not in 2026 and 2029. The savings are estimated to amount to 7.18 percent in 2029. Find more statistics on other topics about Bolivia with key insights such as the general government primary net lending, the annual inflation rate of end of period consumer prices, and the current account balance as a share of the GDP.