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Personal Savings Rate Drop, Durable Goods Orders Spike

As the chart above indicates, Americans personal savings rate dropped 4.2% in November. According to Haver Analytics, this is the lowest savings rate in nine months. The savings rate drop may explain the 3.5 percent jump in durable goods orders for the month of November. People are more confident about their current economic position and the outlook for next year. There might be a direct correlation between durable goods orders and personal savings rate.