Americans' savings rate rises to highest level in almost a year

Americans pushed up their savings rate last month to 4%, the highest level in nearly a year. Meanwhile, consumer spending increased 0.2% compared with April. Almost all of the economic growth in the U.S. is coming from spending by the government or businesses that are getting stimulus money, analysts said. The Washington Post

This is not high by international standards and not very healthy in my opinion. I had been looking for the rate to move to 7-8%; I have been wrong.