US personal savings fall $5.5 tn since April 2020, pointing to a potential recession


Alphavalue / Divacons | A loss of $5.5 trillion since April 2020 is raising risks to the US economy. A sharp drop in Americans’ personal savings threatens to affect consumer spending, which has so far helped the US economy withstand recession warnings. The data comes from a study released on Tuesday by data, economics and technology company Barchart, drawing on data from Bloomberg.

Earlier, another report by Oxford Economics predicted that US consumer spending could fall by more than $100 billion annually.

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