Financial Accounts of the United States - Z.1
F.6 Derivation of measures of personal saving1
Billions of dollars; quarterly figures are seasonally adjusted annual rates
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q3 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Net acquisition of financial assets | FA174090005 | 2248.7 | 2769.6 | 2471.4 | 3265.1 | 2513.5 | 2816.4 | 2034.3 | 2577.9 | 2457.1 |
| Line 2 | Checkable deposits and currency | FA173020005 | -141.2 | 217.0 | 1312.6 | -63.5 | 232.1 | 845.8 | 570.2 | -146.5 | 3980.9 |
| Line 3 | Time and savings deposits | FA173030005 | -425.2 | -3.0 | -558.7 | 113.1 | 61.0 | 83.9 | 432.1 | 381.1 | -3132.0 |
| Line 4 | Other deposits | FA153030505 | -0.8 | 5.8 | 11.7 | 12.7 | -3.6 | 7.6 | 11.0 | 20.1 | 7.9 |
| Line 5 | Money market fund shares | FA173034005 | 935.9 | 683.1 | 615.3 | 709.2 | 1097.5 | 561.1 | 272.2 | 643.3 | 984.7 |
| Line 6 | Debt securities | FA174022005 | 1040.1 | 49.9 | -281.7 | 772.0 | -446.6 | -296.9 | 413.6 | -445.8 | -797.6 |
| Line 7 | Treasury securities | FA173061105 | 811.3 | 148.0 | 219.2 | 347.6 | -91.7 | 167.8 | 638.4 | -61.3 | 131.9 |
| Line 8 | Agency- and GSE-backed securities | FA153061705 | 15.6 | 70.2 | -127.2 | -50.4 | 378.1 | -461.3 | -92.9 | -40.4 | 85.8 |
| Line 9 | Municipal securities | FA173062005 | 94.6 | 94.0 | 102.0 | 89.7 | -61.1 | 92.6 | 286.9 | 74.8 | -46.4 |
| Line 10 | Corporate and foreign bonds | FA153063005 | 118.6 | -262.4 | -475.6 | 385.1 | -672.0 | -96.1 | -418.9 | -418.8 | -968.8 |
| Line 11 | Loans | FA174023005 | -63.7 | 9.5 | 127.1 | 295.5 | -110.0 | 363.6 | 92.3 | 56.0 | -3.4 |
| Line 12 | Corporate equities2 | FA153064105 | 234.3 | 993.0 | 753.3 | 704.2 | 955.1 | 959.8 | -375.1 | 1604.2 | 824.2 |
| Line 13 | Mutual fund shares | FA153064205 | -209.4 | 3.1 | -189.8 | -24.7 | -118.5 | -242.0 | 33.3 | -222.5 | -328.1 |
| Line 14 | Trade receivables | FA163070005 | 36.9 | 36.5 | 36.1 | 36.5 | 36.5 | 36.1 | 36.1 | 36.1 | 36.1 |
| Line 15 | Life insurance reserves | FA153040005 | 22.5 | 58.5 | -10.1 | 27.1 | 62.5 | -71.0 | 17.6 | 2.0 | 10.8 |
| Line 16 | Pension entitlements | FA153050005 | 557.9 | 430.4 | 351.0 | 365.1 | 436.7 | 243.1 | 334.3 | 350.8 | 475.8 |
| Line 17 | Miscellaneous and other assets | FA173099005 | 261.5 | 285.8 | 304.7 | 317.9 | 310.9 | 325.2 | 196.6 | 299.1 | 397.7 |
| Line 18 | Gross investment in nonfinancial assets | FA175050005 | 3755.1 | 3922.2 | 4033.4 | 3934.1 | 3998.8 | 4033.3 | 4022.7 | 4028.2 | 4049.5 |
| Line 19 | Residential fixed investment | FA175012005 | 1098.0 | 1166.9 | 1176.7 | 1159.9 | 1180.6 | 1189.1 | 1179.8 | 1168.1 | 1169.6 |
| Line 20 | Nonresidential fixed investment | FA175013005 | 702.5 | 730.6 | 751.9 | 738.4 | 728.8 | 739.7 | 747.2 | 755.7 | 765.2 |
| Line 21 | Consumer durables | FA155111003 | 1960.9 | 2033.3 | 2114.5 | 2038.7 | 2100.6 | 2087.1 | 2115.1 | 2125.9 | 2130.1 |
| Line 22 | Nonproduced nonfinancial assets | FA155420003 | -16.1 | -17.1 | -18.3 | -17.3 | -17.6 | -17.8 | -18.1 | -18.5 | -18.9 |
| Line 23 | Inventories | FA115020005 | 9.8 | 8.6 | 8.6 | 14.4 | 6.4 | 35.2 | -1.2 | -3.0 | 3.5 |
| Line 24 | Consumption of fixed capital | FA176300005 | 2954.5 | 3062.4 | 3145.1 | 3079.5 | 3103.2 | 3074.6 | 3113.8 | 3175.5 | 3216.4 |
| Line 25 | Residential fixed investment | FA176320005 | 763.6 | 788.3 | 824.9 | 794.7 | 804.7 | 811.9 | 820.1 | 828.4 | 839.4 |
| Line 26 | Nonresidential fixed investment | FA176330005 | 558.4 | 585.4 | 608.1 | 589.6 | 590.8 | 594.8 | 599.0 | 616.3 | 622.2 |
| Line 27 | Consumer durables | FA156300103 | 1632.5 | 1688.7 | 1712.1 | 1695.3 | 1707.7 | 1667.9 | 1694.6 | 1730.8 | 1754.9 |
| Line 28 | Net investment in nonfinancial assets3 | FA172010005 | 800.6 | 859.8 | 888.4 | 854.6 | 895.6 | 958.7 | 908.9 | 852.7 | 833.1 |
| Line 29 | Residential fixed investment | FA175012865 | 334.4 | 378.6 | 351.7 | 365.2 | 375.8 | 377.2 | 359.7 | 339.7 | 330.2 |
| Line 30 | Nonresidential fixed investment | FA175013865 | 144.1 | 145.2 | 143.9 | 148.8 | 138.0 | 144.9 | 148.1 | 139.4 | 143.0 |
| Line 31 | Consumer durables | FA155111005 | 328.4 | 344.6 | 402.5 | 343.4 | 392.9 | 419.2 | 420.4 | 395.1 | 375.2 |
| Line 32 | Nonproduced nonfinancial assets | FA155420003 | -16.1 | -17.1 | -18.3 | -17.3 | -17.6 | -17.8 | -18.1 | -18.5 | -18.9 |
| Line 33 | Inventories | FA115020005 | 9.8 | 8.6 | 8.6 | 14.4 | 6.4 | 35.2 | -1.2 | -3.0 | 3.5 |
| Line 34 | Net increase in liabilities | FA174190005 | 861.8 | 938.0 | 1122.8 | 908.1 | 1080.6 | 751.7 | 1235.5 | 1248.7 | 1255.6 |
| Line 35 | One-to-four-family residential mortgages | FA173165105 | 388.4 | 394.2 | 414.8 | 453.5 | 356.2 | 361.0 | 504.1 | 500.1 | 294.2 |
| Line 36 | Other mortgages | FA173165205 | 185.8 | 152.0 | 221.2 | 172.2 | 161.6 | 144.9 | 175.9 | 267.5 | 296.8 |
| Line 37 | Consumer credit | FA153166000 | 129.8 | 98.9 | 114.2 | 119.1 | 120.4 | 58.2 | 142.7 | 115.3 | 140.5 |
| Line 38 | Other loans and advances | FA173169005 | 41.5 | 136.6 | 179.4 | 57.5 | 205.8 | 9.8 | 172.9 | 259.8 | 275.3 |
| Line 39 | Other liabilities | FA173199005 | 116.2 | 156.3 | 193.2 | 105.9 | 236.6 | 177.8 | 240.0 | 106.1 | 248.7 |
| Line 40 | Net capital transfers paid4 | FA175440005 | -100.1 | -58.1 | -13.6 | -67.0 | -95.9 | -113.4 | 21.4 | 20.0 | 17.8 |
| Line 41 | Personal saving, FOF concept (FOF) | FA176007025 | 2087.4 | 2633.2 | 2223.4 | 3144.5 | 2232.6 | 2910.0 | 1729.2 | 2202.0 | 2052.4 |
| Line 42 | - Net investment in consumer durables | FA155111005 | 328.4 | 344.6 | 402.5 | 343.4 | 392.9 | 419.2 | 420.4 | 395.1 | 375.2 |
| Line 43 | - Government insurance and pension fund reserves5 | FA313154015 | -1.4 | -1.1 | -1.6 | -0.7 | 0.1 | -2.0 | -1.8 | -0.6 | -2.1 |
| Line 44 | + Contr. for govt. soc. insur., U.S.-affiliated areas | FA156600075 | 6.4 | 6.5 | 6.7 | 6.5 | 6.5 | 6.7 | 6.7 | 6.7 | 6.8 |
| Line 45 | = Personal saving, NIPA concept (FOF)6 | FA176007005 | 1766.8 | 2296.2 | 1829.3 | 2808.2 | 1846.1 | 2499.4 | 1317.2 | 1814.2 | 1686.1 |
| Line 46 | Personal saving, NIPA concept (NIPA) | FA156007015 | 1159.2 | 1193.2 | 1061.5 | 1127.2 | 1052.4 | 1163.3 | 1140.3 | 1013.1 | 929.2 |
| Line 47 | Difference | FA176007085 | 607.5 | 1103.0 | 767.8 | 1681.0 | 793.7 | 1336.2 | 176.9 | 801.1 | 757.0 |
| Memo: | |||||||||||
| Line 48 | Disposable personal income (DPI) | FA156012005 | 20749.3 | 21917.7 | 22882.4 | 22002.6 | 22249.5 | 22563.7 | 22786.6 | 23001.2 | 23178.2 |
| Personal saving as a percentage of DPI: | |||||||||||
| Line 49 | FOF concept (FOF data) (line 41) | FA176007026 | 10.06 | 12.01 | 9.72 | 14.29 | 10.03 | 12.90 | 7.59 | 9.57 | 8.85 |
| Line 50 | NIPA concept (FOF data) (line 45) | FA176007006 | 8.51 | 10.48 | 7.99 | 12.76 | 8.30 | 11.08 | 5.78 | 7.89 | 7.27 |
| Line 51 | NIPA concept (NIPA data) (line 46) | FA156007016 | 5.59 | 5.44 | 4.64 | 5.12 | 4.73 | 5.16 | 5.00 | 4.40 | 4.01 |
| Line 52 | Difference (line 47) | FA176007086 | 2.93 | 5.03 | 3.36 | 7.64 | 3.57 | 5.92 | 0.78 | 3.48 | 3.27 |
Notes:
- Consolidated statement for households and nonprofit organizations and nonfinancial noncorporate business.
- Directly held, and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 13), life insurance reserves (line 15), and pension entitlements (line 16).
- Line 18 less line 24.
- Table F.5, line 62 plus line 66.
- Railroad Retirement Board, the National Railroad Retirement Investment Trust, and federal government life insurance reserves.
- Lines 45 and 46 are conceptually equivalent but measure saving using different data. Line 45 is net acquisition of financial assets net of government insurance and pension fund reserves (line 1 less line 43) and including contributions for government social insurance to U.S.-affiliated areas, plus net investment in nonfinancial assets net of consumer durables (line 28 less line 42) less net increase in liabilities (line 34) plus net capital transfers paid (line 40). Personal saving, NIPA concept (NIPA) (line 46) is disposable personal income (line 48) less personal outlays (table F.101, line 4).
Last Update: 2026-03-19