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Financial Assets of Austrian Households Decline for the First Time Since the Financial Crisis
People ♦
Published: October 31, 2022; 10:48 ♦ (Vindobona)
The economic crisis, high inflation, falling share prices and rising energy prices are now taking their toll. According to a new study, average household wealth in Austria fell in recent months for the first time since the 2008 financial crisis.
In particular, the unfavourable price developments of shares and investment certificates led to significant asset losses. / Picture: © Wikimedia Commons, Håkan Dahlström from Malmö, Sweden, CC BY 2.0
According to a new publication of the Austrian National Bank, the financial assets of Austrian households have decreased for the first time since the financial crisis in 2008. The reason is the continuing challenging economic situation.
This decline was measured among private households as well as non-profit private organisations such as trade unions, associations or aid…
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