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Aussies saving 10 per cent of income

20/01/2012

An OECD ranking of household savings rates puts Australia fifth among the 23 countries surveyed, with 10.4 per cent of household disposable income going into savings in 2011.

Back in 2006, before the financial crisis brought the country’s borrowing binge to an end, Australia’s household savings rate was 2.1 per cent. Its OECD ranking that year was 16th.

OECD economists are forecasting that Australian households will maintain their high savings rate. The forecast for the current year is 10.3 per cent and for 2013 the expected rate is 10.5 per cent.

Source: Banking Day



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