U.S. Personal Savings Rate
美国.S. personal saving rate stood at 3.7 percent at the end of 2023, up from the 3.4 rate at the end of 2022. 的 personal saving rate is the federal government’s estimate of what percent of their incomes U.S. households are saving. But market watchers and economists are mixed on what can be learned from swings in the saving rate.1
Why Economists Struggle
的y struggle with the personal saving rate because it’s a derivative number – that is, it’s not measured directly. Instead, the Bureau of Economic Analysis derives the saving rate from other estimates. Here’s how it’s calculated:2
- 的 Bureau of Economic Analysis subtracts payroll and income taxes from 个人收入 to get disposable 个人收入.
- 的 Bureau then subtracts its estimate of personal outlays, which include expenditures, interest payments, 和支付, from disposable 个人收入 to get an estimate of 个人储蓄.
- 的 personal saving rate is calculated by dividing 个人收入 by 个人储蓄.
As currently structured, the U.S. Personal Saving Rate does not include capital gains from the sale of land or financial assets in its estimate of 个人收入. This effectively excludes capital gains – an important source of income for some.
获得的洞察力
Gaining a bit of insight into a popular economic indicator can help you better understand trends as they are discussed in newspapers and websites. However, don’t let your long-term savings program be influenced by a national number.
1. StLouisFed.org, 2024
2. 东亚银行.政府,2024
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