Are Americans really saving?

[Joelle]

Are Americans really saving?
      

The Dutch investment bank ING reckons talk of Americans rediscovering savings is misleading.
Households are slashing their purchases of financial assets. The savings ratio is rising because borrowing is falling even more rapidly.   The household savings ratio climbed to 6.9 percent in May, up from a low point of 0.4 percent in 2005. But their purchases of [...]
         

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