Personal Savings Numbers
Personal savings numbers were out yesterday. Personal saving, as a percentage of disposable income grew 6.9% in May. From what I can tell that number is the highest its been in at least the past five years.
This is good news bad news. To get the economy back on track consumers need to open their wallets. For individuals and for investment in coming years savings is a net positive. Businesses would like to get folks back to the mall but economic uncertainty means those that can save are likely to continue doing so. Others are going to simply keep paying down debt. It's all part of the "Great Reset" and the economy in my opinion will likely not grown until everybody adjusts down to a new level of consumer demand.
This is good news bad news. To get the economy back on track consumers need to open their wallets. For individuals and for investment in coming years savings is a net positive. Businesses would like to get folks back to the mall but economic uncertainty means those that can save are likely to continue doing so. Others are going to simply keep paying down debt. It's all part of the "Great Reset" and the economy in my opinion will likely not grown until everybody adjusts down to a new level of consumer demand.
posted by CR English at 8:45 AM
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