Americans Saved $1.1 Trillion Less Than Previously Thought From 2017-2022
- Revised data also show slower 2022 growth, faster inflation
- Bureau of Economic Analysis also introducing new price indexes
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US households saved some $1.1 trillion less than previously thought over the past six years, according to revised government data released Thursday.
As part of a comprehensive update of some of the nation’s most-important economic statistics, the Bureau of Economic Analysis now calculates that Americans stashed away an average 8.3% of their disposable income annually from 2017 through 2022, down from a previously estimated 9.4%. The reduction stems from an accounting adjustment that lowered personal income from mutual funds and real estate investment trusts.