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 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.

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.

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.

Graph and download economic data for Personal saving as a percentage of disposable personal income from Q1 1947 to Q4 2024 about disposable, savings, personal income, percent, personal, 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.

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.

The monthly personal saving rate in the United States fluctuated considerably during the COVID-19 pandemic. During the year 2020, households' saving rate in the United States peaked in April at 33.8 percent. As of October 2022, personal savings in the United States amounted to 2.3 percent of Americans' disposable income, back to pre-pandemic levels.

United States - Personal saving as a percentage of disposable personal income was 12.20% in January of 2021, according to the United States Federal Reserve. Historically, United States - Personal saving as a percentage of disposable personal income reached a record high of 27.90 in January of 1944 and a record low of -0.70 in January of 1933. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Personal saving as a percentage of disposable personal income - last updated from the United States Federal Reserve on March of 2025.

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

Graph and download economic data for Ratio of Personal Saving to Disposable Personal Income for United States (Q1074AUSQ163SNBR) from Q1 1939 to Q4 1946 about disposable, savings, ratio, personal income, personal, income, and USA.

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.

United States PI: saar: Personal Savings as % of Disposable Personal Income data was reported at 3.300 % in Mar 2018. This records an increase from the previous number of 2.700 % for Dec 2017. United States PI: saar: Personal Savings as % of Disposable Personal Income data is updated quarterly, averaging 9.100 % from Mar 1947 (Median) to Mar 2018, with 285 observations. The data reached an all-time high of 15.000 % in Jun 1975 and a record low of 2.200 % in Sep 2005. United States PI: saar: Personal Savings as % of Disposable Personal Income data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s United States – Table US.A218: NIPA 2013: Personal Income and Disposition: saar: Quarterly.

Graph and download economic data for Net private saving: Households and institutions (W986RC1Q027SBEA) from Q1 1947 to Q4 2024 about savings, Net, households, private, GDP, and USA.

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.

This statistic shows the household saving rate of the United States from 2010 until 2017. In 2015, The household saving rate in the United States was 4.87 percent.

United States Personal Saving as Percentage of Disposable Personal Income: sa data was reported at 3.400 % in Sep 2003. This records an increase from the previous number of 3.200 % for Jun 2003. United States Personal Saving as Percentage of Disposable Personal Income: sa data is updated quarterly, averaging 8.200 % from Mar 1946 (Median) to Sep 2003, with 231 observations. The data reached an all-time high of 12.800 % in Mar 1946 and a record low of 0.800 % in Dec 2001. United States Personal Saving as Percentage of Disposable Personal Income: sa data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.A204: NIPA 1999: Disposable Personal Income.

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.

Key information about US Gross Savings Rate

• US Gross Savings Rate was measured at 17.8% in Dec 2022, compared with 17.8% in the previous quarter.
• US Gross Savings Rate is updated quarterly, with data available from Mar 1947 to Dec 2022, and an average rate of 17.8%.
• The data reached an all-time high of 17.8% in Mar 1965 and a record low of 13.3% in Sep 2009.
• The Bureau of Economic Analysis provides quarterly Gross National Savings Rate.
• In the latest reports, US GDP expanded 0.9% YoY in Dec 2022.
• US Nominal GDP reached 6,534,498.0 USD mn in Dec 2022. Its GDP deflator (implicit price deflator) increased 6.4% in Dec 2022.
• US GDP Per Capita reached 59,484.0 USD in Dec 2017.

In 2022, approximately 39 percent of children from eight to fourteen years old owned a savings account in the United States. One of the least popular financial instruments for children to own were cryptocurrencies and digital assets at around five percent. Meanwhile, 29 percent of children had piggy banks. When focusing on their parents, 401(k) plans were the most popular type of retirement savings accounts in the U.S.