Austrian Savings Quota Drops

BusinessEconomy ♦ Published: October 11, 2013; 06:44 ♦ (Vindobona)

Compared to 2012, Austrians have less financial room. The savings quota falls from 7.4% to 5.2%.

Austrian Savings Quota Drops / Picture: ©

According to a survey carried out by Bank Austria, Austrian households have reduced saving substantially in the last months. This year, 59% of the interviewees will save less than in 2012. In the next few years, this development will continue, economists say.

The decreasing savings quota is mainly due to the shrinking purchasing power. According to unconfirmed reports, Austria´s…