Economic Perspectives

Domestic Consumers: Bigger Savers Than Previously Thought

Authored by Brian Jones, FHLBNY Financial Economist

Highlights

August 2018

American consumers have long been chided for their allegedly extravagant ways. With few exceptions, the percentage of funds saved out of personal disposable income by domestic residents has lagged behind those of other industrialized nations and even-larger groupings such as the Euro area or the European Union…

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