‭What is the U.S. Savings Rate?‬
‭Data Crunch‬
‭Banking‬
‭1.‬ B
‭ efore March 2020, when was the personal‬
‭savings rate the HIGHEST? What was the‬
‭peak savings rate?‬
‭March 2019 at 9.5%‬
‭DOK 1‬
‭2.‬ ‭On the entire graph, from June 2015 to March‬
‭2023, when was the personal saving rate the‬
‭HIGHEST? What was that rate?‬
‭March 2020 at 33.8%‬
‭DOK 1‬
‭3.‬ ‭How would you describe the overall savings trend in the U.S. from June 2015 to February 2020?‬
‭The graph stays in the medium to high single-digit percentages.‬
‭DOK 2‬
‭4.‬ ‭The savings rate increased‬‭every year‬‭at some point‬‭between December and February. Hypothesize‬
‭why this might be.‬
‭People spent a lot of money during the holiday season so they decide save money in the following months in‬
‭order to make up for it.‬
‭DOK 3‬
‭5.‬ ‭Why did the savings rate increase after February 2020? What do you think accounts for the spikes in‬
‭the personal savings rate in March 2020 and January 2021?‬
‭I think the COVID-19 Pandemic was the reason for the sharp spikes in the percentages in money saved.‬
‭DOK 3‬
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‭Last updated: 07/28/23‬