Saving Rate Falls Further

BusinessEconomy ♦ Published: April 28, 2012; 13:35 ♦ (Vindobona)

Private households invested € 9.3bn in financial assets in 2011. This is a decline by 20% against 2010.

Saving Rate Falls Further / Picture: ©

Since 2007, a slowdown in the saving activity of Austrian households is observable. Last year, the saving amount per household fell considerably. On average, a decline of € 700 per household was recorded. In 2010, Austrian households achieved savings of € 11.9bn. Last year, the figure fell down to € 9.3bn. The saving rate accounted for 7.5% last year.

Bank deposits were up…