Since the beginning of the 1980s, the personal savings rate (the ratio of personal savings to disposable personal income) has steadily declined. Monthly estimates show this seemingly alarming trend continuing, with the personal savings rate falling to 0.1% in June, the lowest level on record. July’s number (0.8%), though slightly better, is still paltry.
Suggested citation: “Savings Rates,” Federal Reserve Bank of Cleveland, Economic Trends, no. 98-09, pp. 06, 09.01.1998.