Tuesday, January 31, 2006

Savings Rate: Lowest since great depression

The savings' rate for the year is down to the lowest level since the Great Depression.
To finance the increased spending, Americans dipped further into their savings, pushing the savings rate for all of 2005 into negative territory at minus 0.5 percent. That was the lowest annual savings rate since a decline of 1.5 percent in 1933, a year in which the country was struggling to cope with the Great Depression.


Post a Comment

<< Home