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U.S. savings rate falls as consumers drive growth

U.S. savings rate falls as consumers drive growth

By Matt Phillips, Axios Markets

Americans’ savings rates slid again in the third quarter as consumer spending led the charge to a strong reading on U.S. economic growth.

Why it matters: Analysts have been watching falling rates of consumer savings — which surged during the pandemic and created a big savings cushion — for hints about whether consumers are reaching the end of their ability to fuel spending growth.

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