Geek's Number Talk: Saving Rate Down, Spending Up

The personal saving rate fell more than half a point to 9.4% from July to August, according to numbers from the Bureau of Economic Analysis. This makes the record 33.8% rate at the height of the pandemic in April 2020 seem like ancient history. Why the steep decline? Well, people are getting back to spending their limited income rather than saving their stimulus checks. Our friends at the Balance have more insights.