According to one website: "The official spelling is Daylight Saving Time, not Daylight SavingS Time. Saving is used here as a verbal adjective (a participle). It modifies time and tells us more about its nature; namely, that it is characterized by the activity of saving daylight. It is a saving daylight kind of time. Similar examples would be a mind expanding book or a man eating tiger. Saving is used in the same way as saving a ball game, rather than as a savings account."
So there you have it!
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