Our proprietary data reveals how individuals in the U.S. have changed their savings behaviors over the course of the COVID-19 pandemic as business and travel restrictions disrupted our economy. Not surprisingly, we saw notable shifts in savings plan contributions and withdrawals in the first few months of the outbreak, as individuals experienced changes in employment and braced for the potential financial fallout. States across our nation have since begun phased reopenings of businesses, and our data already suggests positive signs of savings recovery.

Our proprietary data reveals how Americans changed their savings behaviors over the course of the COVID-19 outbreak as business and travel restrictions disrupted the U.S. economy. These insights serve as an early baseline for the evolution of savings plan contribution and withdrawal behaviors in response to the pandemic and subsequent passage of the CARES Act. We expect to see new trends emerge as financial markets continue to rebound and stabilize and as states across the nation gradually reopen their economies.

Proprietary data from Ascensus reveals how U.S. employees shifted their savings behaviors in March 2020, as the COVID-19 outbreak caused major disruption to the U.S. economy and financial markets.