“After years of spending as if there were no tomorrow, consumers are now saving like there is a tomorrow”

"After years of spending as if there were no tomorrow, consumers are now saving like there is a tomorrow" http://on.wsj.com/1NuAEAe 

4:23 AM - 31 Mar 2015

Americans Are Saving More, But for How Much Longer?

Americans are squirreling away most of the money they're getting from slowly rising incomes and cheaper gasoline.

Real Time Economics @WSJecon

 

Americans are squirreling away most of the money they’re getting from slowly rising incomes and cheaper gasoline.

The personal saving rate rose to 5.8% in February, the highest level in more than two years, the Commerce Department said Monday.
The rate measures the percentage of disposable income Americans don’t spend. In absolute dollar terms, the figure was a seasonally adjusted $768.6 billion, also the highest level since December 2012–when new taxes set for 2013 skewed the numbers.  As recently as November, the rate was only 4.4%.
The latest saving figures suggest households have been cautious, opting to build up their rainy-day funds. Consumer spending during February rose a weak 0.1% while disposable incomes–personal income after taxes–advanced 0.4%.
http://blogs.wsj.com/economics/2015/03/30/americans-are-saving-more-but-for-how-much-longer/