Austria: Savings to Shrink Further

People ♦ Published: January 22, 2014; 21:00 ♦ (Vindobona)

According to Erste Group, the amount to be saved continues to shrink substantially. What is more, average loan amounts are declining moderately.

Austria: Savings to Shrink Further / Picture: ©

Austrians state that they want to reinvest or newly invest approximately 4,700 euro in 2014. That is exactly 1,000 euro less for the coming 12 months than in the comparable period last year. About one third (32%) expect that they will make major purchases over the same time period and 12% of those will finance them by taking out a loan. For the purpose of long term wealth…