Savings skyrocketed as Americans locked down

Americans’ personal-savings rate hovered just below 10 percent in the months before the onset of the pandemic. As lockdowns began, savings climbed dramatically, up to nearly 35 percent in spring 2020. The rate has fallen but remains above historical norms, at over 12 percent, as the pandemic lingers.

Savings rates in the United States remain high, though lower than their record peak in 2020.

To read the article, see “Trends that will define 2021 and beyond: Six months on,” July 21, 2021.