Savings rates refer to the percentage of income that individuals or households set aside for future use rather than spending immediately. This rate can vary based on personal financial goals, economic conditions, and interest rates offered by banks. Higher savings rates often indicate a focus on financial security and long-term planning. In the context of the economy, national savings rates can influence overall economic growth. When more people save, it can lead to increased funds available for investment, which can benefit businesses and create jobs. Conversely, low savings rates may suggest higher consumer spending, which can stimulate economic activity in the short term.