Personal Savings 4.2% in February

From a BEA release this morning:

Personal saving — DPI less personal outlays — was $450.7 billion in February, compared with $478.1 billion in January.  Personal saving as a percentage of disposable personal income was 4.2 percent in February, compared with 4.4 percent in January.  For a comparison of personal saving in BEA’s national income and product accounts with personal saving in the Federal Reserve Board’s flow of funds accounts and data on changes in net worth, which help finance consumption, go to www.bea.gov/national/nipaweb/Nipa-Frb.asp.

The last time we had two back-to-back months with a U.S. savings rate over 4% was 1998.

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