Tuesday, 30 April 2013

Personal Savings Rate: the Europeans vs the Americans

Well, at least the Europeans save more than the American consumer. Eurostat reports as of Q4 2012:

Household saving rate down to 12.2% in the euro area and to 10.7% in the EU27. 
Household real income per capita fell by 1.1% in the euro area.
In the fourth quarter of 2012, the household saving rate in the euro area was 12.2%, compared with 12.8% in the third quarter of 20123. In the EU274 , the household saving rate was 10.7%, compared with 11.0% in the previous quarter.
For comparative purposes, the average personal savings rate in the U.S. was just under 4.7% in Q4 2012 (dropping to 2.6% in Q1 2013). This means the savings rate for the euro area was more 2.61 times higher than in the U.S. for the final quarter in 2012.

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