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Personal Savings Up: Report

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The personal savings rate rose to 3.3% of income in September, from 1.3% a year earlier, government figures show.

Consumers saved $355.6 billion in September, up from $140.3 billion in September 2008, according to data from the Bureau of Economic Analysis of the U.S. Dept. of Commerce.

“Personal savings clearly continues to be a priority for the vast majority of Americans, many of whom are still concerned about the overall state of the economy and their individual financial stability,” said Cathy Weatherford, CEO and president of the Insured Retirement Institute, Washington, in a comment on the data.