Private households as rich as never before

Released on 14.10. 2021

  • People put money on the high edge, at the same time they benefit from price gains on the stock exchanges. Photo: Patrick Pleul

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People in Germany save a lot and benefit from rising stock exchange prices. All in all, they are as rich as never before.

Frankfurt / Main (dpa) – Even after the gradual relaxation of the corona restrictions, people in Germany kept their money together. At the same time, they benefited from the rise in stock exchange prices – financial assets climbed to a record high in the second quarter compared to the first quarter of 130 billion euros to 7325 Billion euro. Economists expect a further increase in the course of the year. The Bundesbank data does not reveal how the enormous sum is distributed.

The gradual easing of the restrictions to combat the corona pandemic boosted consumer spending in the second quarter , the savings rate fell according to data from the Federal Statistical Office. Yet people continued to put money on the high edge. Cash and bank deposits in current and overnight accounts, for example, continued to be the largest item at a good 2910 billion euros at the end of June. In the second quarter, around 24 billion euros were added. Savers do not earn anything because of the slack interest rates, but they can access their money quickly if necessary. “Liquid investments or those perceived as low-risk are still very popular overall, but private households have been increasing their exposure to the capital market for years,” the central bank summed up on Thursday. According to the information, private households bought investment fund shares for and shares for 7 Billion euro. According to the Bundesbank, valuation gains on shares and investment fund shares played a significant role in the growth of financial assets in the second quarter . Here the stocks increased by around 14 billion euros to around 2529 billion euros.

DZ Bank expects a further increase in financial assets in the current year. According to DZ Bank economist Michael Stappel, people are likely to save less than 10. Nevertheless, thanks to increases in the value of stocks, funds and certificates, financial assets are likely to rise to 7.6 trillion euros, according to an analysis by the top cooperative institute published in the summer. In the next year, a further increase to then almost 8 trillion euros can be expected.

In the second quarter, too, people in Germany used the low interest rates to borrow money. After deducting debts, net financial assets increased by around Billion euro. Real estate, which has seen strong increases in value for years, is not included in the data.

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