No clear downward trend in household savings if capital gains are included: Three-year average change in household net worth as a share of GDP, 1958—2016
| Date | Change in household net worth accounted for by capital gains |
|---|---|
| 1958Q1 | 22.3% |
| 1958Q2 | 21.7% |
| 1958Q3 | 21.7% |
| 1958Q4 | 21.9% |
| 1959Q1 | 21.9% |
| 1959Q2 | 21.4% |
| 1959Q3 | 20.8% |
| 1959Q4 | 20.6% |
| 1960Q1 | 20.0% |
| 1960Q2 | 19.7% |
| 1960Q3 | 18.7% |
| 1960Q4 | 18.4% |
| 1961Q1 | 18.9% |
| 1961Q2 | 19.2% |
| 1961Q3 | 20.2% |
| 1961Q4 | 20.3% |
| 1962Q1 | 19.7% |
| 1962Q2 | 17.8% |
| 1962Q3 | 16.0% |
| 1962Q4 | 15.4% |
| 1963Q1 | 15.2% |
| 1963Q2 | 16.8% |
| 1963Q3 | 18.4% |
| 1963Q4 | 19.0% |
| 1964Q1 | 19.3% |
| 1964Q2 | 19.1% |
| 1964Q3 | 18.9% |
| 1964Q4 | 18.7% |
| 1965Q1 | 18.4% |
| 1965Q2 | 18.2% |
| 1965Q3 | 19.7% |
| 1965Q4 | 21.6% |
| 1966Q1 | 22.4% |
| 1966Q2 | 23.1% |
| 1966Q3 | 21.3% |
| 1966Q4 | 19.5% |
| 1967Q1 | 19.9% |
| 1967Q2 | 20.5% |
| 1967Q3 | 21.9% |
| 1967Q4 | 23.0% |
| 1968Q1 | 22.8% |
| 1968Q2 | 23.5% |
| 1968Q3 | 24.5% |
| 1968Q4 | 25.9% |
| 1969Q1 | 26.9% |
| 1969Q2 | 27.3% |
| 1969Q3 | 27.0% |
| 1969Q4 | 26.6% |
| 1970Q1 | 26.3% |
| 1970Q2 | 24.4% |
| 1970Q3 | 23.2% |
| 1970Q4 | 21.9% |
| 1971Q1 | 21.6% |
| 1971Q2 | 23.1% |
| 1971Q3 | 23.2% |
| 1971Q4 | 23.5% |
| 1972Q1 | 23.0% |
| 1972Q2 | 22.4% |
| 1972Q3 | 23.2% |
| 1972Q4 | 24.9% |
| 1973Q1 | 27.0% |
| 1973Q2 | 28.8% |
| 1973Q3 | 31.5% |
| 1973Q4 | 31.9% |
| 1974Q1 | 31.5% |
| 1974Q2 | 29.9% |
| 1974Q3 | 26.3% |
| 1974Q4 | 24.1% |
| 1975Q1 | 23.1% |
| 1975Q2 | 23.3% |
| 1975Q3 | 23.7% |
| 1975Q4 | 23.7% |
| 1976Q1 | 22.9% |
| 1976Q2 | 22.5% |
| 1976Q3 | 22.9% |
| 1976Q4 | 22.9% |
| 1977Q1 | 24.0% |
| 1977Q2 | 25.0% |
| 1977Q3 | 26.3% |
| 1977Q4 | 28.8% |
| 1978Q1 | 30.5% |
| 1978Q2 | 31.3% |
| 1978Q3 | 31.2% |
| 1978Q4 | 31.0% |
| 1979Q1 | 31.2% |
| 1979Q2 | 31.7% |
| 1979Q3 | 32.5% |
| 1979Q4 | 33.0% |
| 1980Q1 | 33.2% |
| 1980Q2 | 34.1% |
| 1980Q3 | 35.2% |
| 1980Q4 | 36.4% |
| 1981Q1 | 37.5% |
| 1981Q2 | 38.2% |
| 1981Q3 | 38.0% |
| 1981Q4 | 37.3% |
| 1982Q1 | 36.6% |
| 1982Q2 | 35.0% |
| 1982Q3 | 33.9% |
| 1982Q4 | 32.7% |
| 1983Q1 | 31.7% |
| 1983Q2 | 31.5% |
| 1983Q3 | 30.9% |
| 1983Q4 | 29.4% |
| 1984Q1 | 27.6% |
| 1984Q2 | 25.7% |
| 1984Q3 | 24.4% |
| 1984Q4 | 24.2% |
| 1985Q1 | 24.3% |
| 1985Q2 | 24.8% |
| 1985Q3 | 25.4% |
| 1985Q4 | 26.0% |
| 1986Q1 | 26.7% |
| 1986Q2 | 27.0% |
| 1986Q3 | 26.9% |
| 1986Q4 | 27.2% |
| 1987Q1 | 28.2% |
| 1987Q2 | 29.3% |
| 1987Q3 | 31.0% |
| 1987Q4 | 31.2% |
| 1988Q1 | 30.9% |
| 1988Q2 | 30.4% |
| 1988Q3 | 29.6% |
| 1988Q4 | 29.9% |
| 1989Q1 | 29.8% |
| 1989Q2 | 29.5% |
| 1989Q3 | 29.4% |
| 1989Q4 | 29.3% |
| 1990Q1 | 28.6% |
| 1990Q2 | 27.4% |
| 1990Q3 | 25.4% |
| 1990Q4 | 23.1% |
| 1991Q1 | 22.6% |
| 1991Q2 | 22.1% |
| 1991Q3 | 22.1% |
| 1991Q4 | 22.4% |
| 1992Q1 | 21.2% |
| 1992Q2 | 20.0% |
| 1992Q3 | 19.0% |
| 1992Q4 | 17.7% |
| 1993Q1 | 16.8% |
| 1993Q2 | 16.6% |
| 1993Q3 | 16.7% |
| 1993Q4 | 17.6% |
| 1994Q1 | 18.2% |
| 1994Q2 | 18.0% |
| 1994Q3 | 18.1% |
| 1994Q4 | 17.4% |
| 1995Q1 | 17.0% |
| 1995Q2 | 17.6% |
| 1995Q3 | 18.5% |
| 1995Q4 | 19.8% |
| 1996Q1 | 21.0% |
| 1996Q2 | 21.9% |
| 1996Q3 | 22.1% |
| 1996Q4 | 22.0% |
| 1997Q1 | 21.9% |
| 1997Q2 | 22.9% |
| 1997Q3 | 24.6% |
| 1997Q4 | 26.4% |
| 1998Q1 | 29.6% |
| 1998Q2 | 31.6% |
| 1998Q3 | 31.4% |
| 1998Q4 | 32.6% |
| 1999Q1 | 32.4% |
| 1999Q2 | 32.7% |
| 1999Q3 | 33.6% |
| 1999Q4 | 35.3% |
| 2000Q1 | 37.9% |
| 2000Q2 | 39.3% |
| 2000Q3 | 40.6% |
| 2000Q4 | 38.1% |
| 2001Q1 | 34.0% |
| 2001Q2 | 30.0% |
| 2001Q3 | 25.2% |
| 2001Q4 | 24.0% |
| 2002Q1 | 22.3% |
| 2002Q2 | 20.0% |
| 2002Q3 | 17.2% |
| 2002Q4 | 13.6% |
| 2003Q1 | 9.3% |
| 2003Q2 | 6.4% |
| 2003Q3 | 6.4% |
| 2003Q4 | 6.5% |
| 2004Q1 | 10.9% |
| 2004Q2 | 16.5% |
| 2004Q3 | 20.6% |
| 2004Q4 | 26.3% |
| 2005Q1 | 29.4% |
| 2005Q2 | 31.6% |
| 2005Q3 | 35.8% |
| 2005Q4 | 39.4% |
| 2006Q1 | 44.0% |
| 2006Q2 | 47.9% |
| 2006Q3 | 49.1% |
| 2006Q4 | 48.5% |
| 2007Q1 | 46.4% |
| 2007Q2 | 43.3% |
| 2007Q3 | 40.4% |
| 2007Q4 | 36.2% |
| 2008Q1 | 30.1% |
| 2008Q2 | 23.8% |
| 2008Q3 | 16.4% |
| 2008Q4 | 6.8% |
| 2009Q1 | -1.6% |
| 2009Q2 | -9.5% |
| 2009Q3 | -14.5% |
| 2009Q4 | -16.0% |
| 2010Q1 | -16.2% |
| 2010Q2 | -16.7% |
| 2010Q3 | -17.4% |
| 2010Q4 | -17.1% |
| 2011Q1 | -15.0% |
| 2011Q2 | -10.5% |
| 2011Q3 | -6.8% |
| 2011Q4 | -2.5% |
| 2012Q1 | 4.1% |
| 2012Q2 | 9.9% |
| 2012Q3 | 16.6% |
| 2012Q4 | 21.0% |
| 2013Q1 | 23.0% |
| 2013Q2 | 24.5% |
| 2013Q3 | 27.2% |
| 2013Q4 | 30.6% |
| 2014Q1 | 32.4% |
| 2014Q2 | 34.0% |
| 2014Q3 | 33.9% |
| 2014Q4 | 35.2% |
| 2015Q1 | 37.0% |
| 2015Q2 | 37.8% |
| 2015Q3 | 38.1% |
| 2015Q4 | 36.4% |
| 2016Q1 | 34.4% |
| 2016Q2 | 32.3% |
| 2016Q3 | 30.9% |
| 2016Q4 | 29.4% |
Note: Shaded areas denote recessions.
Source: Author’s analysis of data from the Financial Accounts of the United States from the Federal Reserve Board (FAUS) and the National Income and Product Accounts (NIPA) of the Bureau of Economic Analysis (BEA)