US savings rate at 15 year high
Posted by admin | Under Economy Saturday Jun 27, 2009The US citizens are now more worried about their future than ever before, if you go by the huge increase in the domestic savings rate, in spite of very low bank interest rates. The domestic savings by the US citizens has reached a 15 year high 6.9% in May 2009, due to the uncertain job market.
The savings has also gone up due to the credit balances remaining in many bank accounts due to the stimulus spends given by the government.