Austrians' purchasing power grows 4.6% Y/Y in 2009.
(ADPnews) - Jun 7, 2010 - In 2009, the purchasing power of the Austrian population rose by 4.6% in nominal terms to around EUR 135 billion (USD 161bn), research institute KMU Forschung Austria said on Monday.
When inflation effects are taken into account, the year-on-year increase was of 4.1%. Factoring in the population increase, the nominal spending power per person grew by 4.1% on the year to around EUR 16,200.
Income from employment increased below the average of the past years but still contributed greatly to the overall purchasing power, KMU Forschung said. At the same time, spending power attributable to pensions was bigger than in 2008. Social benefits were another factor relevant to the year-on-year increase of purchasing power, the institute added.
In the past year, fiscal and social policy had a positive effect on Austrians' purchasing power and helped create a stable consumer confidence, commented Peter Voithofer, director of KMU Forschung. Thus an increase of purchasing power was possible in spite of the economic crisis and the resulting rise in unemployment, he said.
(EUR 1.0 = USD 1.194)
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|Publication:||ADP News Austria|
|Date:||Jun 7, 2010|
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