GDP - Federal Reserve Bank of San Francisco

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GDP - Federal Reserve Bank of San Francisco
DataPost
Personal Saving Rate
Delayed Consumption
Date last updated: June 10, 2013
Federal Reserve Bank of San Francisco
Economic Education Group
Saving Rate – Did You Know?
Personal Saving Rate
Definition
•The saving rate is personal saving as a percentage
of disposable income
•Personal saving is personal income (like wages or
salary) minus spending
•Disposable income is personal income minus taxes
12
10
9.8
8
6.5
5.1
6
Calculation
•The most common measure of the U.S. personal
saving rate is based on the National Income and
Product Accounts (NIPA)
• NIPA is also used to calculate gross domestic
product (GDP) and gross domestic income (GDI)
2.9
4
2
1980
1990
2000
2010
Sources: Bureau of Economic Analysis
& FRBSF calculations
Relationship
DataPost
•Personal saving reflects a tradeoff between current
and future consumption
•Increased current saving reduces current
consumption and enables future consumption
By 2000 personal saving (as a
percent of disposable income)
had dropped to 30% of its 1980
rate.
http://www.frbsf.org/education/teachers/datapost/index.html
FRBSF Economic Education Group
Personal Saving Rate (%)
Seasonally adjusted values, Jan. 2000 – Apr. 2013
9
8
7
6
5
4
3
2
1
0
2000
2002
2004
2006
2008
2010
2012
Source: Bureau of Economic Analysis
DataPost
http://www.frbsf.org/education/teachers/datapost/index.html
FRBSF Economic Education Group
Annotated Chart Notes
Personal Saving Rate (%)
Seasonally adjusted values, Jan. 2000 – Apr. 2013
9
8
During the latest
recession, the average
saving rate was 5.3%
compared to an
average 2.7% during
the 2001 recession
Households often
save more during a
recession.
7
6
5
4
3
2
1
0
2000
2002
2004
2006
2008
2010
2012
Source: Bureau of Economic Analysis
DataPost
http://www.frbsf.org/education/teachers/datapost/index.html
FRBSF Economic Education Group
What Do You Think?
1. What was your personal saving rate last month?
A.
Within a given month, add up all earnings, taxes paid, and
expenses to calculate your personal saving rate:
(Disposable Income – Spending)
Disposable Income
X
100
2. Compare your personal saving rate with the U.S.
average in 2012.
DataPost
http://www.frbsf.org/education/teachers/datapost/index.html
FRBSF Economic Education Group

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