What the US personal saving rate measures
The personal saving rate is personal saving as a percentage of disposable personal income – income after taxes. Saving is what is left after households pay for consumption, interest and transfers. The Bureau of Economic Analysis calculates it monthly from the national accounts, so it is a residual of two very large numbers and is revised often.
How to read this chart
A long decline from double digits in the 1970s to low single digits in the mid-2000s shows Americans spending a growing share of income, helped by rising home and stock wealth and easy credit. Spikes appear when incomes jump while spending is constrained – most dramatically in 2020, when stimulus checks arrived while shops were closed.
The latest reading in context
- At 3.8%, the latest reading is below its 5-year average of 5.3% and below its 10-year average of 7.2%.
- That is lower than 93% of all monthly readings since January 1959 – near the bottom of its historical range.
- Direction: down 0.2 points over the past month; down 1.3 points over the past six months; down 1.3 points over the past year.
- The highest value on record is 31.8% (April 2020, 6 years ago); the lowest is 1.4% (July 2005, 21 years ago).
- The full history spans 9 US recessions, shaded grey on the chart.
Why it matters
Saving funds investment and gives households a cushion for job loss. A falling saving rate can keep consumer spending strong for a while, but it leaves families more exposed when the economy turns. Rising saving in a downturn, though prudent for each household, can deepen the slump – the “paradox of thrift”.
What moves the US personal saving rate
- Income growth, including government transfers
- Consumer confidence and job security
- Household wealth from homes and stocks
- Interest rates and access to credit
Key moments in its history
- 1975Above 15% in the spring of 1975.
- Mid-2000sFell to low single digits during the housing boom.
- Apr 2020Jumped to about 32%, by far the highest on record.
- 2022Dropped back to around 3–4% as households spent excess savings.
Personal Saving Rate data tables
Average by decade
| Decade | Average | High | Low |
|---|---|---|---|
| 2020s (so far) | 7.6% | 31.8% | 2.4% |
| 2010s | 6.1% | 10.9% | 4.5% |
| 2000s | 4.2% | 7.8% | 1.4% |
| 1990s | 7.2% | 10.5% | 3.7% |
| 1980s | 9.8% | 13.0% | 4.1% |
| 1970s | 12.2% | 17.3% | 9.3% |
| 1960s | 11.2% | 12.9% | 8.4% |
| 1950s | 10.3% | 11.3% | 8.7% |
Last 12 months
| Period | Value | Change |
|---|---|---|
| Sep 2026 | 3.8% | −0.2 pts |
| Aug 2026 | 4.0% | −0.5 pts |
| Jul 2026 | 4.5% | +0.1 pts |
| Jun 2026 | 4.4% | 0.0 pts |
| May 2026 | 4.4% | 0.0 pts |
| Apr 2026 | 4.4% | −0.7 pts |
| Mar 2026 | 5.1% | −0.2 pts |
| Feb 2026 | 5.3% | −0.3 pts |
| Jan 2026 | 5.6% | +0.6 pts |
| Dec 2025 | 5.0% | +0.1 pts |
| Nov 2025 | 4.9% | 0.0 pts |
| Oct 2025 | 4.9% | −0.2 pts |
Monthly values. Decade figures are averages of the monthly values in each decade. The complete history is available as a CSV file.
Use this chart on your website
Set the options, check the preview, then copy the code into any HTML page, blog post or sidebar. There is nothing to install and no account to create; the chart refreshes itself when new data is published.
Preview
Free for personal and commercial sites. The only condition: leave the two credit links in the code visible. Every setting is explained on the Embed page, where you can also pick any of our charts.
Personal Saving Rate: questions and answers
How is the saving rate calculated?
Disposable personal income minus personal outlays, divided by disposable personal income. If households earn $100 after taxes and spend $95, the saving rate is 5%.
Why did saving soar in 2020?
Stimulus payments and expanded unemployment benefits raised incomes just as lockdowns made it hard to spend on travel, restaurants and services.
Does saving include 401(k) contributions?
Yes, contributions to retirement accounts are part of personal saving. Capital gains on investments are not counted as income, so they do not raise the saving rate.
Where does the data on this chart come from?
From the U.S. Bureau of Economic Analysis. ChartWidgets downloads the series (PSAVERT) from FRED, the Federal Reserve Bank of St. Louis database, and checks for new releases every day. The last update was on November 1, 2026.