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Topic: Savings ratio

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	Key Economic Data Home Page
		The fall in the savings ratio from 9.7% in the fourth quarter of 1997 to 4.2% in the first quarter of 1991 is associated with a rise in GDP from 0.91 in the third quarter of 1997 to 2.31% by the third quarter of 1998.
		This trend however is reflected elsewhere, for example, the savings ratio rises from 4.1% in the first quarter of 2000 to 7.5% a year later with GDP falling from 1.92% to 0.63% in the last quarter of 2000.
		The amount of income saved by UK citizens could be relatively small and therefore wide fluctuations in the savings ratio have little impact on the overall pattern of GDP although it might be said to be one factor exerting an influence on the level of growth of GDP.
	www.bized.co.uk /dataserv/ked/analysis.htm (766 words)

	SA savings ratio down
		The ratio of gross household saving to GDP recovered from 2% in 2002 to 2.5% per cent in 2003 and 2004, but fell back to an average of 2% in the first half of 2005.
		The ratio of gross saving by the corporate sector to GDP declined from 13.5% in 2002 to 12% in 2004 and 10.5% in the first half of 2005, the SARB added.
		The recent weakening in the corporate saving ratio was the result of relatively high dividend payments which coincided with a slowdown in the operating surpluses of incorporated business enterprises.
	www.news24.com /News24/AnanziArticle/0,6935,1518-25_1759215,00.html (430 words)

	Halifax: Savings ratio at four-year high (Site not responding. Last check: 2007-10-09)
		Household savings "are on a steady trend upwards", according to Peter Jackson, head of savings at Halifax.
		In fact, new research from the bank suggests that the UK savings ratio is at a four-year high of six per cent.
		The figures for the first quarter of 2006 show that savings are at their highest level since the final quarter of 2001, but still below the 7.8 per cent average for the last 43 years.
	qck.com /halifax-savings-ratio-at-four-year-high-savings-17341537.html (285 words)

	Falling savings ratios -- Why not a small policy u-turn?
		The net domestic savings ratio in the economy was close to 17 per cent of income in 1994-95 and 1995-96.
		The second ratio is that of financial savings to increases in M3 during a given year.
		These are the two crucial ratios that are important in appraising the effect of overall fiscal and monetary policy on the growth objective.
	www.thehindubusinessline.com /2001/10/27/stories/042720ma.htm (1380 words)

	HTG Investment Advisors Inc. - Retirement Roadmap, W-06 - investment advisor serving individual investors
		The underlying objective of the ratios is to help individuals move from having high debt and low savings, which is typical at the beginning of their working careers, to having high savings and no debt by the time of retirement.
		At age 45, the savings to income, debt to income and savings rate should be 3, 1 and 12%; at age 55, the ratios should be 6.5,.5 and 12% savings; and at age 65, the ratios are 12, 0, and 12% savings.
		For example, a 45 year-old should have accumulated savings worth three times his or her annual salary, have debt of no more than one times salary, and be saving 12% of earned income.
	www.htginvestmentadvisors.com /generic132.html (787 words)

	How household savings are changing shape
		The rate of financial savings at 6 per cent was low in the 1970s, but with a secular rise in the interest rates and yields during the eighties and through the nineties, this registered a rise, peaking at 15 per cent by 1994-95, the highest figure reached by the financial savings ratio post-Independence.
		Savings in government securities which was a mere 0.4 per cent in 1993-94, is now accounting for 6 per cent of the total financial savings and small savings has almost doubled from 6 per cent to 12 per cent.
		Be that as it may, what the shift in saving towards physical assets shows is that, at present household savings in the system are being driven not by current incomes, but on expected future cash flows.
	www.rediff.com /money/2003/sep/18guest.htm (652 words)

	US Savings Rate Sinks to Lowest Since Great Depression
		The savings ratio fell to minus 0.5 per cent last year...the first time the ratio has gone negative for an entire year since 1932 and 1933, when the US was struggling to cope with the Great Depression.
		The savings ratio fell to minus 0.5 per cent last year, meaning Americans not only spent all of their after-tax income but also had to increase their borrowings or plunder their savings.
		The savings ratio is seen as a key economic indicator as it shows how vulnerable households are to a sudden shock such as a surge in interest rates or unexpected redundancy.
	www.commondreams.org /headlines06/0131-03.htm (746 words)

	[No title]
		The saving ratio is highly cyclical with movements in the ratio strongly associated with the UK economic cycle.
		Households tend to save a smaller proportion of their income when the economy is doing well and their confidence is high, encouraging people to spend, but save a higher proportion of income when conditions are more worrying.
		The saving ratio averaged 8.5% during the period of relatively rapid inflation between 1969 and 1991 (inflation averaged 10%), but averaged 6.2% during the periods of relatively low inflation in the 1960s and 5.6% since 1998 when inflation has again been low.
	www.hbosplc.com /economy/includes/04-06-05SavingRatio.doc (1592 words)

	HBOS Press Release (via CobWeb/3.1 planet03.csc.ncsu.edu) (Site not responding. Last check: 2007-10-09)
		The saving ratio, however, does exclude the value of the housing equity held by households - an important factor in the UK where owner-occupation levels tend to be higher than in most major European countries.
		The saving ratio was low during the late 1980s housing market boom, subsequently rising to high levels when the housing market went into recession in the early 1990s.
		There are also signs that the saving ratio is influenced by the general level of inflation with the saving ratio tending to be higher during periods of more rapid inflation when people feel a greater need to save as a hedge against inflation.
	www.hbosplc.com.cob-web.org:8888 /media/pressreleases/articles/halifax/2003-07-05-00.asp (1332 words)

	Savings ratio reaches four-year peak - The Thrifty Scot
		The UK savings ratio – the proportion of disposable income that is saved rather than spent in households – hit a four-year high of six per cent in the first quarter of this year, Halifax reports.
		Using data from the Office of National Statistics, the bank found that total household saving totalled around £12.9 billion in this period and over the entire year this sum was calculated at £44.1 billion.
		Figures for the UK savings ratio calculation began to be collected in 1963 and since then the level has varied greatly, from a peak of 14.1 per cent in 1979 to a trough of 3.1 per cent in 2004.
	www.thriftyscot.co.uk /Finance-News/072006/Savings-ratio-reaches-four-year-peak.html (231 words)

	Little done to boost savings (Site not responding. Last check: 2007-10-09)
		Malawi’s savings ratio is this year projected at negative 11 percent of Gross Domestic Product (GDP) from a positive position averaging 18 percent in the 1980s.
		Saving is negatively correlated with inflation—now standing at 15.9 percent and climbing—making it hard for people to tuck away part of their income at present.
		This situation arises from the fact that the ability to save is enhanced in an environment where the rate of inflation and level of budget deficits are low.
	www.nationmalawi.com /articles.asp?articleID=14016 (1245 words)

	Emerging Infectious Diseases * Volume 2 * Number 4 * October-December 1996
		The greatest cost savings is likely to occur during the epizootic since this stage is typically associated with the highest cost of raccoon rabies control (5; Tysmans, J., MPH thesis, 1996).
		These savings per person are converted to savings per unit area as follows: On the basis of population estimates (21) from 53 counties in New York State, the median population density was estimated at 103 persons per sq.
		An example of the savings estimate follows: In 1991, there were 52.5 million dogs and 57 million cats in the United States (22), an average of 0.41 pets per person.
	www.cdc.gov /ncidod/EID/vol2no4/meltzer.htm (3719 words)

	Savings and investment -DAWN - Business; May 12, 2003
		In estimating foreign savings, capital inflows are taken into account which include the amounts of disbursements under foreign loans/credits made either for payments for purchase of goods and services for the projects direct cash receipts for balance of payments support.
		At individual level, savings are essential to ensure on the one hand that these generate adequate income during the post-retirement life when regular earnings are non-existent while on the other hand these savings are channelised by the financial sector and the government on the “investment” activities.
		The figures of savings since the fiscal year 1998-99 (FY-99) to the fiscal year 2001-02 (FY-02) as a percentage of GNP (gross national product) are given in Table A. The reasons for substantial difference between the savings: GNP ratio for FY01 in the SBP’s two annual reports remain unexplained.
	www.dawn.com /2003/05/12/ebr10.htm (2229 words)

	UK savings ratio "approaching record low" (via CobWeb/3.1 planet03.csc.ncsu.edu) (Site not responding. Last check: 2007-10-09)
		The UK savings ratio, the proportion of post-tax income that households save rather than spend, has varied from a high of 12.4 per cent in 1980 to lows of 4.9 per cent in 1988 and again in 1999.
		The present ratio is 5.6 per cent, which is more than two per cent below the average of 7.9 and a mere 0.7 per cent from the record low.
		The savings ratio was higher when the housing market went into recession in the early nineties.
	www.xmas-hampers.com.cob-web.org:8888 /news/2005/Jun/uk-savings-ratio-approaching-record-low.html (448 words)

	[No title]
		While use of the external debt variable as an argument in savings functions is rare, it is nevertheless recognised that, depending on the circumstances of the particular economy, it may be an important influence in national savings behaviour (Fry (1995)).
		The crowding out of 0.36 percentage point of the ratio of gross domestic savings to GDP per percentage point rise in the ratio of central government savings to GDP is close to the estimate of 0.41 by Fry (1979) for Turkey for the period 1950 to 1978.
		The coefficient of lagged savings is insignificant, and is consistent with the outcome in the savings function.
	www.caribank.org /Staff_Pa.nsf/Kendal-IntRates?OpenPage (4149 words)

	The Size of the New City and the Savings Ratio
		A = 1/194 are saved across the OT period, the church age and millennial kingdom.
		What this shows is that the savings ratio during the church age gets absurdly low if Christ returns in 100 years from now.
		The corporation, having been a great benefit to society, sadly, is also the true weapon of mass destruction as they lobby and tempt politicians for environmental destruction and further divide between the rich and the poor.
	www3.telus.net /trbrooks/savingsratio.htm (821 words)

	Tutor2u - trends in the UK savings ratio
		From 1985-88 there was a dramatic fall in the savings ratio and the underlying reasons were not hard to find.
		Other factors have encouraged a higher level of saving – notably the need to finance living standards in retirement at a time when the relative value of the state pension is falling.
		The latter years of the decade have seen a fall in the household savings ratio - in part because consumer confidence has picked up and people have been prepared to spend more than their current income in a bid to improve their short term living standards.
	www.tutor2u.net /economics/content/topics/consumption/savings_ratio.htm (562 words)

	Wealth effect dents savings : Moneyweb (Site not responding. Last check: 2007-10-09)
		However, in order to finance this, South Africa’s savings ratio of around 14% of GDP will have to rise in tandem as we will not be able to rely on capital inflows from abroad to finance the growing financing shortfall.
		At a microeconomic level, the steady erosion in gross household savings ratio during the past decade has put individuals at risk of not being able to finance their retirement.
		Gross household savings flows as a percentage of disposable income (that portion of after tax income used to accumulate financial assets) have almost halved over the past fifteen years from the roughly 20% it averaged during the 1970s and 1980s.
	www.moneyweb.co.za /economy/soapbox/689084.htm (1211 words)

	Scotsman.com Business - Consumer spending - 'Crisis' message hits home with savings ratio at four-year high (Site not responding. Last check: 2007-10-09)
		The UK savings ratio - which measures the proportion of gross disposable income households save rather than spend - climbed to 6 per cent in the first quarter of the year, the highest level since the fourth quarter of 2001.
		However, the savings ratio is still more than 1.5 percentage points below the 7.8 per cent average for the past 43 years.
		Changes in the saving ratio are strongly associated with the economic cycle, with high ratios being recorded when the economy is in recession and unemployment is high.
	business.scotsman.com /topics.cfm?tid=49&id=1029112006 (480 words)

	Dar Al Hayat (Site not responding. Last check: 2007-10-09)
		This prescription stems from the classic assumption that the key to economic development lies in increasing the rate of capital buildup, which is in turn identified by the savings ratio.
		Thus, the foreign savings flows in, as it is known, in various forms, chiefly loans, direct investment, and investment portfolio (financial securities).
		According to the published reports, assuming that they are correct, the local savings ratio represents nearly 42% of the Gross Domestic Product (GDP) in Oman, 39% in the UAE, 30% in Bahrain, and 26% in Saudi Arabia, while the investment rate reaches 23%, 26%, 16%, and 21% in the four countries respectively.
	english.daralhayat.com /business/03-2006/Article-20060310-e4cce0aa-c0a8-10ed-003f-58bb4a984fa9/story.html (2168 words)

	Savings Factors (via CobWeb/3.1 planet03.csc.ncsu.edu) (Site not responding. Last check: 2007-10-09)
		However, this is dominated by by progressive growth in the unemployment rate and simultaneous decline in the household saving rate since the mid 70s.
		In fact the strongest relationship of change in household savings ratio is with changes in real per capita household disposable income.
		Together, the two coefficients indicate that much of an increase in GDP this year becomes savings but is drawn against in the following year (ie decreasing the savings ratio in that year).
	www.cor-ex.com.cob-web.org:8888 /EcChal/ecSavings.htm (565 words)

	GuideStar - News - Articles - Why Ratios Aren't the Last Word
		The savings ratio reveals the rate of the nonprofit's savings by measuring the relationship between total annual savings and total expenses.
		Although the savings ratio is an important component of longevity, high ratios may indicate excessive savings.
		The savings ratio should be considered in combination with the liquid funds indicator.
	www.guidestar.org /news/features/ratios.jsp (1327 words)

	Personal Income News Release
		Personal saving -- DPI less personal outlays -- was a negative $15.0 billion in September, compared with a negative $49.0 billion in August.
		Personal saving as a percentage of disposable personal income was a negative 0.2 percent in September, compared with a negative 0.5 percent in August.
		Saving from current income may be near zero or negative when outlays are financed by borrowing (including borrowing financed through credit cards or home equity loans), by selling investments or other assets, or by using savings from previous periods.
	www.bea.gov /bea/newsrel/pinewsrelease.htm (4333 words)

	rediff.com: Budget Special: Cut in interest on savings will hit growth
		A savings rate of 35 to 40 per cent is needed to achieve economic growth of eight to nine per cent.
		The savings mobilised through the banks are decreasing because of the deliberate policy of induced reductions in deposit rates, economists say.
		Referring to reports that incentives for savings rate are to be further reduced in the Budget, Brahmanada said, "this means the pious pronouncements about higher growth rates in the immediate future are, in effect, are just words".
	www.rediff.com /money/2001/feb/26cuts.htm (1341 words)

	Circular savings - Find Best Resources
		It is also worth observing that the ratio of debt to financial assets in the United Kingdom has fallen from just over a third in 1990 to around one quarter in 2001 (see Table 13).
		In this context, note that the ratio of debt to assets in the United Kingdom is in line with the average ratio for the major six economies (M6), and that, indeed, the ratio of debt to assets rose during the 1990s in some other countries, including Germany, Australia and New Zealand.
		However, the ratio of house prices to total personal disposable income is only marginally higher than its post-1970s' average and is considerably lower than during the late 1980s.
	mywebpage.netscape.com /savingssavingssa/circular-savings/circular-savings.html (1316 words)

	Harrison Lab Case Study (Site not responding. Last check: 2007-10-09)
		This ratio is particularly impressive when you consider the take-home savings ratio which, for the Harrison's is approximately 17%.
		Their solvency ratio is 1.25 which means they have 25% more assets than debts.
		This ratio is within the 30-35% range (a little high in the short run if total credit card debt is included), but considering they have a mortgage and if they pay off their credit card debt, the Harrisons situation is not terribly out of line.
	www.missouri.edu /~cfe283/FSHarrisonAnalysis.htm (278 words)

	FT.com / World / Europe - Bundesbank head expects rise in Germans’ savings rate (Site not responding. Last check: 2007-10-09)
		The savings rate of German private households – savings as a share of disposable incomes – reflected “rational behaviour”, given the country’s future pension requirements, Mr Weber said.
		The trend rise in Germans’ savings ratio has acted as a brake on consumer spending – which remains the Achilles heel of Europe’s largest economy, even as its industrial sector enjoys a export-led renaissance.
		Bundesbank economists expect Germany’s savings ratio to fall this year because of the effects of a planned three percentage point increase in value added tax in 2007.
	www.ft.com /cms/s/86d2782e-ffa6-11da-93a0-0000779e2340.html (635 words)

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