US personal savings rate fell to 2.7% in June, the lowest since June 2022, marking the 5th consecutive monthly decline and approaching Financial Crisis lows.
Macro & Markets ·
The US personal savings rate declined to 2.7% in June, marking the lowest level since June 2022 and the third-lowest monthly reading since April 2008. This represents a 0.1 percentage point drop from the prior month and extends a streak of five consecutive monthly declines totaling 1.7 percentage points. The rate compares unfavorably to the 5.5% average recorded between 2014 and 2019, and approaches levels seen during 2005-2007 when savings rates ranged between 1.4% and 3.3%.