Consumer Are US consumers saving more?

Economic uncertainty and increased unemployment have raised the question of whether consumers intend to save more of their monthly paychecks. In the US, savings intentions vary widely depending on income.

31 Mar 2020
  • Higher-income households generally save more than lower-income households, both in absolute terms and as a percentage of income.
  • Among households making more than $200k a year, 28% intend to save a higher share of their income. Among those with incomes of $100-200k, 9% intend to save more.
  • Middle- and lower-income households intend to save the same share or less.

Over the next 3 months, how do you believe the proportion of your monthly income going into savings will change? 

Source: UBS Evidence Lab