Personal Saving Rate

Source:
U.S. Bureau of Economic Analysis

Release:
Personal Income and Outlays

Units:
Percent, Seasonally Adjusted Annual Rate

Frequency:
Monthly

Available Through:
10/31/2021

Why Use:

Personal saving rate is calculated as the ratio of personal saving to disposable income. Data scientist will use this rate as a proxy for future planning compared to immediate needs.

Suggested Treatment:

The data shows seasonality. The data should be adjusted. While the Order Norm transformation, provides the best normality, the Untransformed variable will also perform well.

Grain Transformation:

Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.

Connect to this
Data Set Now

Ready Signal automates the process of sourcing, normalizing, and applying data science treatments to this data and other impactful control data. Create an account today.

Personal Saving Rate

Auto Correction Function

Auto Correlation Function After Differencing

Partial Auto Correlation Function

Seasonal Impact

Seasonal and Trend Decompostion

Autocorrectation Analysis:

Data does not show strong autocorrectation indicating no need for differencing

The ACF indicates 0 order differencing is appropriate.

Following first order differencing, no further differencing is required based on the differenced ACF at lag one of -0.18

Trend Analysis:

The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.18 p-value = 0.02 indicates that the data is not stationary.

Distribution Analysis:

The Shapiro-Wilk test returned W = 0.89 with a p-value =0.00 indicating the data does not follow a normal distribution.

A skewness score of 1.71 indicates the data are substantially skewed.

Hartigan's dip test score of 0.04 with a p-value of 0.26 inidcates the data is unimodal

Statistics (Pearson P/ df, lower => more normal)

No transform
1.41
Box-cox
1.59
Log_b(x-a)
1.52
sqrt(x+a)
1.46
exp(x)
3.56
arcsinh(x)
1.52
Yeo-Johnson
1.60
OrderNorm
1.37

Citation:

U.S. Bureau of Economic Analysis, Personal Saving Rate [PSAVERT], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/PSAVERT, December 16, 2019.

Take the next step

SIGN UP FREE