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Weekly Economic Perspectives

Dramatic Decline in US Personal Savings Rate

Chief Economist
Investment Strategist

The Economy

  • The US household savings rate revised sharply lower.
  • Canadian GDP unexpectedly higher in July.
  • The UK economy expands modestly in Q2.
  • Consumer confidence crumbles across the eurozone.
  • The Japanese industrial production rebounds.
  • Australian retail sales improve.

Spotlight On Next Week

  • US employment growth to moderate but remain robust.
  • Canadian unemployment rate may rise again.
  • The RBA set to hike another 50 bp.

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