finance
U.S. Personal Savings Rate Declines to 2.6% in April as Consumer Spending Continues to Outpace Income
The U.S. personal savings rate dropped 0.6 percentage points in April to 2.6%. Consumer spending rose 5.7% year-over-year while personal income grew 2.5%.
May 30, 9:57 AM·1m read1 source
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U.S. 6%, the lowest level since June 2022. 7 percentage points over the three-month period ending in April.
It was also the second-lowest savings rate recorded since April 2008. S. 5% year-over-year growth in personal income. The gap between spending growth and income growth was the widest since 2022.
Consumer spending growth has now exceeded income growth for twelve consecutive months through April. @KobeissiLetter reported that rising costs of living are increasingly forcing consumers to cut into their savings to keep up.
U.S. Economic activity in April 2026.
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