Net National Saving

Research Report

Net National Saving

June 21, 2004

Abstract

Net Savingthat is, saving after subtracting depreciation on existing physical assetsis a key determinant of long-term economic growth. Higher levels of net saving increase the accumulation of capital by Americans, and thereby raise future national income. In 2003, net national saving amounted to 1.8 percent of net national product (NNP), the lowest share since 1934.

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