Americans Are Saving More
The household saving rate in the United States has been on an uptrend for years. And while we’ve been staying at home to help prevent the spread of COVID-19, the saving rate in the US reached a level not seen in over twenty-five years. For most of the past twelve months, we were saving at an annualized rate of 7.5% – 8%. But in March that rate increased to over 13%. And the recently released April figure hit a whopping 33%! Americans are saving more. And this trend is expected to continue throughout the summer. But why?
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