Net saving measures the total amount of saving in the economy after subtracting the consumption of fixed capital (depreciation) from gross saving. Positive net saving means the nation is building wealth; negative values indicate it is consuming more than it produces. The S&P 500 overlay provides context for how equity markets move relative to national saving trends. Gray bands mark NBER-defined U.S. recessions. Data source: Federal Reserve Bank of St. Louis (FRED).