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U.S. savings habits improve - a bit

By Dina Hampton November 10, 2006, 6:01 AM EST Post a Comment

For the first time in years, improvements, however slight, are being seen in the savings habits of Americans.

The personal savings rate rose from -0.6% to -0.5% in the third quarter, according to a study released today by the Securities Industry and Financial Markets Association.

Personal savings reached an all-time low in the third quarter of 2005, to a negative 1.5% of Americans' disposable personal income

That means that for the past year and a half Americans have been "dissaving," with outlays exceeding personal income, according to SIMFA.

But personal savings, though still in the red, showed a slight improvement in the quarter just ended as personal savings rose to a negative $46.8 billion from negative $54.6 billion in the second quarter.

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