U.S. Savings Rate Not the Lowest: Americans...
From Times Staff and Wire Service Reports
U.S. Savings Rate Not the Lowest: Americans often are accused of having lost the Yankee love of thrift, but the International Monetary Fund says people in some other countries are saving even less--notably in prosperous northern Europe. In 1988, the average American household saved only $4.40 out of every $100 left after taxes. The average Swedish household did not save at all: It drew on past savings or went into debt at the rate of $3.60 for every $100 it earned.
