---
title: "U.S. Consumption: \"Excess Savings\" Have Been Exhausted, Next It Relies on the Stock Market"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/265077715.md"
description: "U.S. consumer confidence and employment expectations indicators are both at low levels. UBS's statistics show that the excess savings accumulated by households during the pandemic have basically been exhausted and can no longer serve as the main driving force for consumption. However, the ratio of U.S. household net worth to disposable income remains at a historical high, mainly due to the value of assets such as stocks, which will continue to provide some support for consumption. (Chasing Wind Trading Desk)"
datetime: "2025-11-10T06:30:44.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/265077715.md)
  - [en](https://longbridge.com/en/news/265077715.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/265077715.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/265077715.md) | [繁體中文](https://longbridge.com/zh-HK/news/265077715.md)


# U.S. Consumption: "Excess Savings" Have Been Exhausted, Next It Relies on the Stock Market

U.S. consumer confidence and employment expectation indicators are both at low levels. UBS's statistics show that the excess savings accumulated by households during the pandemic have basically been exhausted and can no longer serve as the main driving force for consumption. However, the ratio of U.S. household net worth to disposable income remains at a historically high level, mainly due to the value of assets such as stocks, which will continue to provide some support for consumption. (Chasing Wind Trading Desk)

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- [UBS Group AG (UBS.US)](https://longbridge.com/zh-CN/quote/UBS.US.md)

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