Personal Savings Rate Declines in Q3

Personal Savings Rate continues to return to recent historical norms, as American consumers saved less in Q3 - saving less than they did since Q4 2022. There are many signs that consumers are feeling pressure from rising costs - saving less and spending more. As I pointed out in this recent article - the consumer is still historically well off, thanks to growth in housing equity and stock investments. With a generally positive outlook for 2024, the American consumer looks prime to improve their financial situation over the next year.

- Stew

@slangille