Keeping Track: household savings

The French lead, Americans lag

Vive le bank account!

If you are seeking people who bank away their money, look no farther than France.

The country's household savings rate is expected to be the highest among wealthy nations this year, according to the Organization for Economic Cooperation and Development.

The least likely to squirrel it away? New Zealanders and Americans. The US estimate, however, may be a bit conservative, given that the savings rate already hit a record low of minus 1 percent in January. Also, analysts suggest the figure doesn't give a complete picture because it doesn't account for gains in real estate and financial investments.

(c) Copyright 2001. The Christian Science Monitor

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