Personal Saving Rate
Why Use This Data Source In Your Models?
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.
Personal Saving Rate
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Automated Data Profiling
Suggested Treatment:
Grain Transformation:
Source:
U.S. Bureau of Economic Analysis
Release:
Personal Income and Outlays
Units:
Percent, Seasonally Adjusted Annual Rate
Frequency:
Monthly
Available Through:
03/31/2025
Suggested Treatment:
The data shows auto correlation and a non-normal distribution. The data should be differenced. While the Order Norm transformation, provides the best normality, the Yeo Johnson 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.
Auto Correlation Analysis:
Data shows auto correlation indicating a need for differencing
The ACF indicates 1 order differencing is appropriate.
Following first order differencing, no further differencing is required based on the differenced ACF at lag one of -0.26
Trend Analysis:
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.12 p-value = 0.09 indicates that the data is stationary.
Distribution Analysis:
The Shapiro-Wilk test returned W = 0.60 with a p-value =0.00 indicating the data does not follow a normal distribution.
A skewness score of 3.50 indicates the data are substantially skewed.
Hartigan's dip test score of 0.04 with a p-value of 0.18 inidcates the data is unimodal
Statistics (Pearson P/ df, lower => more normal)
Auto Correlation Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Seasonal Impact
Seasonal and Trend Decompostion
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.