Austria: Saving Quota Down

BusinessEconomy ♦ Published: October 31, 2013; 17:09 ♦ (Vindobona)

At the moment, the savings ratio only comes at 5.2%. An increasing number of Austrians suffer from a declining real income.

Austria: Saving Quota Down / Picture: ©

The current savings ratio only reaches the half of the long-term average.

The underlying reason for the dropping savings quota is not only the low attractiveness of the main savings products, but also the decreasing purchasing power.

According to a survey carried out by the Austrian National Bank (OeNB), more and more Austrians do not have sufficient money to put it…