Americans saving morePosted by RJ and Makay on Jan 31, 2012 |
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American’s savings rate rose to 4% in December from 3.5% in November of last year as personal income rose 0.5%, the Commerce Department reported. The half-point increase was the biggest month-to-month gain since April 2010, according to economists at Credit Suisse. The gain represents a turnaround from the September to November 2011 period when consumers financed their purchases at a cost to personal savings.
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