What does the term savings mean in macroeconomics?

In macroeconomics, savings refers to the portion of income that is not consumed or spent on goods and services. It represents the accumulation of resources over time, which can be used for future consumption or investment. Savings play a crucial role in economic growth, as they provide funds for investment in capital goods, infrastructure, and other productive activities that enhance overall economic productivity. Additionally, national savings can influence interest rates and the balance of payments in an economy.