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Question:The table below shows the personal savings as a percentage of personal income for selected countries in 1970,1990,and 2000.
The table shows the percentage of personal income devoted to savings in seven different countries for the period of 30 years.
According to the table,it can be clearly seen that,the most dramatic changes are evident in Italy,Japan,France,and Canada.In 1970 Italy had the highest number of savings rate of 29.5%followed by France with18.7%and Japan with 17.6.Canada had the comparely lowest ratio of 5.6.
By 1990 Italy was still the leading country,though its saving rate had dropped slightly to 17.6%.Germany was next with 13.8%(same as 1970) and the rates in France and Japan were close behind.In Canada,the savings rate had almost doubled to 11.5%.The Uk and the Usa had the least rates of 8.2 and 5.5 fraction respectively.
By 2000 the savings rates had lavelled out considerably across the seven countries.France and Japan led with 13.6,went after by Germany,Italy and London at around 11%.Personal savings in North America dropped sharply,with Usa at nearly 4% while Canada was at a very low radio of 1.9.
The overall trend shows a reduction in savings over the thirty year period.
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