From the just released personal income and spending report:
Personal saving — DPI less personal outlays — was $438.7 billion in February, compared with $509.5 billion in January. The personal saving rate — personal saving as a percentage of disposable income — was 3.7 per cent in February, compared with 4.3 per cent in January.
For some context, here’s a look at the personal savings rate going back a few years.
It doesn’t have this latest month updated yet, but as you can see, we’re getting back towards pre-crisis levels.
A possible interpretation is that Americans are spending more money on gasoline, but not yet cutting back elsewhere.
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