Personal Saving Rate in 2015
Personal Saving Rate opened 2015 at 6.30% and closed at 5.80%, a -7.94% move for the year. The high of 6.40% was reached on February 1, and the low of 5.60% on July 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 6.30% | 6.30% | 6.30% | 6.30% | +0.00% |
| Feb | 6.40% | 6.40% | 6.40% | 6.40% | +0.00% |
| Mar | 5.90% | 5.90% | 5.90% | 5.90% | +0.00% |
| Apr | 5.90% | 5.90% | 5.90% | 5.90% | +0.00% |
| May | 5.80% | 5.80% | 5.80% | 5.80% | +0.00% |
| Jun | 5.70% | 5.70% | 5.70% | 5.70% | +0.00% |
| Jul | 5.60% | 5.60% | 5.60% | 5.60% | +0.00% |
| Aug | 5.60% | 5.60% | 5.60% | 5.60% | +0.00% |
| Sep | 5.80% | 5.80% | 5.80% | 5.80% | +0.00% |
| Oct | 5.80% | 5.80% | 5.80% | 5.80% | +0.00% |
| Nov | 5.60% | 5.60% | 5.60% | 5.60% | +0.00% |
| Dec | 5.80% | 5.80% | 5.80% | 5.80% | +0.00% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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