Kyodo via Japan Today: Japan's savings rate hits record low of 3.1%
Japan's savings rate in fiscal 2005 fell for the eighth straight year to a record low of 3.1%, the Cabinet Office said Friday, indicating that growth in household income is slow and that senior citizens are dipping into their savings. The savings rate, or the share of savings as a percentage of total household disposable income, in the year to last March dropped by 0.3 percentage point from the previous year.
