Graph and download economic data for Personal Saving Rate (PSAVERT) from Jan 1959 to Apr 2025 about savings, personal, rate, and USA.

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.

Graph and download economic data for Personal saving as a percentage of disposable personal income from Q1 1947 to Q1 2025 about disposable, savings, personal income, percent, personal, income, GDP, and USA.

In the 1st quarter of 2025, personal savings amounted to 3.97 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. After that, it has remained between three and five percent. 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 early 2025, 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.

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.

Household Saving Rate in the United States increased to 4.90 percent in April from 4.30 percent in March of 2025. This dataset provides - United States Personal Savings Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Personal Saving (PSAVE) from Q1 1947 to Q1 2025 about savings, personal, GDP, and USA.

Household Saving Rate in Canada decreased to 5.70 percent in the first quarter of 2025 from 6 percent in the fourth quarter of 2024. This dataset provides - Canada Personal Savings - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Gross saving as a percentage of gross national income (W206RC1Q156SBEA) from Q1 1947 to Q4 2024 about national income, GNI, savings, gross, percent, income, GDP, and USA.

The household savings rate in Sweden fluctuated slightly between 2009 and 2022. The highest rate was reached in 2020, when 17 percent of households' net disposable income was saved. Meanwhile, Swedish households saved less than 9 percent of their income in 2009.

Key information about Hong Kong SAR (China) Gross Savings Rate

• Hong Kong SAR (China) Gross Savings Rate was measured at 30.2% in Sep 2024, compared with 30.2% in the previous quarter.
• Hong Kong SAR (China) Gross Savings Rate is updated quarterly, with data available from Mar 1999 to Sep 2024, and an average rate of 30.2%.
• The data reached an all-time high of 30.2% in Sep 2006 and a record low of 19.0% in Jun 2023.
• CEIC calculates Gross National Savings Rate from quarterly Gross National Savings and quarterly Gross National Income. Gross National Savings is calculated as Gross National Income less Private and Government Consumption Expenditure plus Net Secondary Income. Census and Statistics Department provides Gross National Income, Private Consumption Expenditure, Government Consumption Expenditure and Secondary Income in local currency.
• In the latest reports, Hong Kong SAR (China) GDP expanded 2.8% YoY in Mar 2023.
• Hong Kong SAR (China) Nominal GDP reached 91,422.6 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 1.9% in Mar 2023.
• Hong Kong SAR (China) GDP Per Capita reached 48,990.8 USD in Dec 2022.

Household Saving Rate in Australia increased to 5.20 percent in the first quarter of 2025 from 3.90 percent in the fourth quarter of 2024. This dataset provides - Australia Households Savings - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Household Saving Rate in China decreased to 36.10 percent in 2016 from 37.10 percent in 2015. This dataset provides - China Deposits Interest Rates - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The personal savings rate is calculated as the percentage of personal discretionary income (gross income, fewer taxes and normal living expenses) saved during a given period. Data is sourced from the St. Louis Federal Reserve.

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 2022, the savings of households in Switzerland represented over 19 percent of their disposable income. In contrast, households in South Africa and Italy amounted to 0.2 and 1.82 percent of their disposable income, respectively. Poland and Portugal had negative figures, which means that the final consumption of the households of that country was higher than their net disposable income.

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 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.

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.

Graph and download economic data for Net saving as a percentage of gross national income (W207RC1Q156SBEA) from Q1 1947 to Q1 2025 about national income, GNI, savings, gross, Net, percent, income, GDP, and USA.