We're saving less. Will we spend less?

Jun 14, 2022
After reaching a record high of nearly 34% early in the pandemic, the savings rate has dipped below its pre-pandemic level.
Travelers board a train in Washington, D.C. Partially fueled by pent-up demand for services, consumers are spending down their savings.
Drew Angerer/Getty Images

As the COVID-19 lockdown took hold, savings rates spiked

Jul 31, 2020
Government relief has boosted some incomes, and shutdowns have made it harder to spend.
A shuttered movie theater in Los Angeles. As people are unable to spend money on outings like movies and restaurants, the savings rate has climbed.
Mario Tama/Getty Images

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