Americans have been saving much more than thought, new data show

FOLLOWING REVISIONS to the calculation of the gross domestic product by the U.S. Bureau of Economic Analysis, the savings rate of Americans was revised to be higher than previously thought at 6.7 percent in 2017. / BLOOMBERG
NEW YORK - Americans may not be so spendthrift after all. U.S. households have been socking away a lot more money in recent years than had been earlier thought, revised government statistics released on Friday showed. The saving rate over 2016 and 2017 is now pegged at an average 6.7 percent, up from a previously…

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