Posted 11/27/2023, 5:31:44 AM
European households' savings rate drops in 2022 but remains high; Germany tops EU countries
- In 2022, European households saved 12.7% of their disposable income on average, while the euro area rate was 13.7%
- Germany had the highest savings rate in the EU at 19.91%, followed by the Netherlands and Luxembourg
- Poland and Greece had negative savings rates, spending more than they earn
- Experts point to factors like income level, economic uncertainty, and cultural differences to explain savings behaviors
- The 2022 savings rate was lower than 2021, reflecting a return to pre-pandemic spending levels