Austria: Purchasing Power Shrinks

BusinessEconomy ♦ Published: April 8, 2014; 07:14 ♦ (Vindobona)

Due to higher taxes and social contributions, the real income fell in the last few years.

Austria: Disposable Income Shrinks / Picture: ©

In summer 2012, the Swiss UBS has published a controversial study on Austria´s purchasing power. According to UBS, the real income of low-income earners fell by more than 25% from 2000 to 2010. The Federation of Austrian Industries and the Austrian National Bank rejected the study. Now, the Austrian Statistical Office confirms that the real income has been falling over the last…