Economics

Americans Have Been Saving Much More Than Thought, New Data Show

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By Rich Miller

July 27, 2018 at 12:30 PM UTC

Updated on

July 27, 2018 at 12:39 PM UTC

This article is for subscribers only.

Americans may not be so spendthrift after all.

U.S. households have been socking away a lot more money in recent years than had been earlier thought, revised government statistics released on Friday showed. The saving rate over 2016 and 2017 is now pegged at an average 6.7 percent, up from a previously reported 4.2 percent.