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Austrians save less money and make more debts

Calculations of the National Bank of Austria revealed the fact that Austrians are not so much motivated anymore to save a lot of money. The national saving rate decreased from 12 down to 11,2 percent in the third quartal 2009.

Less money was invested into financial assets, and this is the reason of a “slower wealth building”, explains the spokesman of the National Bank of Austria. Another interesting fact of the financial situation in Austria is the insight that Austrians prefer to make more debts. The dread of debts is decreasing rapidly among the Austrian population.

Capital transactions broke down to 50 percent. Transactions of savings balances, stocks, shares, investment share certificates and life assurances decreased from 4,1 billion Euro down to 2,3 billion Euro.


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