Thuringia: Thuringians are saving more than ever before in the Corona year 2020

Erfurt (dpa/th) - According to the latest available figures, in the first Corona year 2020, the people of Thuringia put more money on the high edge than ever before.

Thuringia: Thuringians are saving more than ever before in the Corona year 2020

Erfurt (dpa/th) - According to the latest available figures, in the first Corona year 2020, the people of Thuringia put more money on the high edge than ever before. The state statistical office announced on Thursday in Erfurt that the savings rate had risen to a record 12.1 percent. The savings rate indicates the proportion of household income that is not spent on consumption. Compared to 2019, the increase in savings totaled 80.5 percent, and 5.5 billion euros were accumulated.

At the same time, in 2020 private consumer spending in Thuringia fell by 4.6 percent to 39.9 billion euros compared to the previous year due to lockdowns and restrictions due to Corona. In comparison, private consumer spending in Germany fell somewhat more sharply, by 5.3 percent. The decline was greatest in Baden-Württemberg at 6.1 percent and lowest in Mecklenburg-Western Pomerania at 3.3 percent.

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