For the past three years, as the United States – like many other nations – battled with elevated inflation, consumer spending has remained remarkably robust, keeping the U.S. economy from sliding into a recession. That has come at the expense of personal saving, which dropped sharply in 2022, when the personal saving rate, i.e. the share of their disposable income that people weren’t spending on consumption, taxes or interest payments, dropped to the lowest level since the financial crisis.During the pandemic, when generous stimulus checks met limited consumption possibilities, Americans had saved more money than ever before, with the personal saving rate peaking at 32 percent in April 2020 and remaining above the pre-pandemic trend until the end of 2021. That’s when inflation started to bite, and people started utilizing these excess savings to support their spending.[...]
pull down to refresh
related posts
11 sats \ 0 replies \ @Satosora 8 Nov
Are they just spending more?
I know inflation is hitting us all hard, but l think the people have become complacent again and are spending money instead of saving.
reply
30 sats \ 0 replies \ @BlokchainB 8 Nov
And credit card debt is the exact opposite of this chart
reply
11 sats \ 0 replies \ @7e6e393a56 8 Nov
In a year and a half, the US issued the equivalent of more than 200 years of dollars, almost half of the total value of issuance. There is no way to avoid a total imbalance in production costs in this way.
reply