Since the mid-1970s the long-term trend in household saving has been downwards (see chart above).
The household saving rate dropped from 26 percent to 12 percent over the last five years.
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The household saving rate dropped from 26% to 12% over the last five years.
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Chinese household saving, at around 25% of disposable income, is astonishingly high by international standards.
As a result, the household saving rate is now a negative 2% of disposable income.
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Some poor countries, particularly those with excess household saving, could do with a better social safety net.
Others noted that the slowdown in the housing market might raise the household saving rate, undermining demand.
Over the past three decades Germany, France, Austria and Belgium have maintained household saving rates between 10 and 13 percent.
On a microeconomic level, China has a very high household saving rate, accounting for about 25 percent of its GDP.
After falling steeply in the late 1990s, China's household saving rate has been more or less steady since 2000 (see chart 9).
"Targets, Interest Rates, and Household Saving in Urban China", by Malhar Nabar.
While corporate saving has risen, household saving in many places has fallen, thanks both to demographics and to government efforts to boost consumption.
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As consumer spending has outpaced incomes, household saving has plunged.
Instead, his legacy will linger in the shape of the biggest economic imbalances in American history: a negative household saving rate and a record current-account deficit (see chart 1).
According to such an interpretation, the drop in household saving, to only 1.5% of personal income in December, is no cause for alarm: households no longer need to save, because rising wealth in shares and homes will do it for them.
Household-saving rates may have fallen, but this does not necessarily indicate imprudence since it has occurred at a time of steep rises in housing wealth.
As of the end of 2007, more than 26.5 million rural households were using household biodigesters, saving the equivalent of 44 million tons of CO2 emissions, according to China's State Council Information Office.
With a savings rate of barely 4% of GDP, the average US household is unlikely to be over-saving.
However, America must bear much of the blame for its failure to do anything to curb household and government borrowing and so boost saving.
Home prices rose about 8% in 2012, which can contribute to a self-reinforcing circle of coaxing hesitant buyers off the sidelines while improving household balance sheets and creating cash-saving refinancing opportunities.
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