Global Macro Service > Research Briefings > United States

Precautionary savings will hold up, not speed up the recovery

The historic rise in precautionary savings will act as a restraint on consumer spending in the coming months. We expect the personal saving rate will decline in two phases over the coming months with income cliffs from expiring fiscal aid representing downside risks to consumer outlays.

To read the full briefing please
If you are not a subscriber, request a free trial of our Global Macro Service by filling out the form below