Americans Are Saving More And Spending Less, But It’s Unlikely To Continue As States Start To Reopen

For some, this is a chance to save like never before. The personal savings rate hit a historic 33% in April, the U.S. Bureau of Economic Analysis said Friday, by far the highest level of saving since the department started tracking data in the 1960s. With Americans largely sheltering at home, this historical spike in the savings rate — the difference between total household income and total household spending — is a “one-off,” according to Greg McBride, chief financial analyst at Bankrate.com. Read more at CNBC.

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