Economy

Americans Have Money and Will Spend It, Goldman Sachs Says

Americans Have Money and Will Spend It, Goldman Sachs Says
People walk through a shopping mall in lower Manhattan in New York City on July 27, 2018 . Spencer Platt/Getty Images
Emel Akan
Emel Akan
Reporter
|Updated:

WASHINGTON—Americans have saved a lot more money than government statistics previously reported. The personal saving rate was actually almost twice as high in 2017, thanks mainly to higher-than-expected employee compensation and dividend income.

The U.S. government revised the personal saving rate—saving as a percentage of disposable personal income—sharply up from 3.4 percent to 6.7 percent in the second-quarter gross domestic product (GDP) report released on July 27.
Emel Akan
Emel Akan
Reporter
Emel Akan is a senior White House correspondent for The Epoch Times, where she covers the policies of the Trump administration. Previously, she reported on the Biden administration and the first term of President Trump. Before her journalism career, she worked in investment banking at JPMorgan. She holds an MBA from Georgetown University.
twitter
Related Topics