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Italian family savings fall to lowest level since 2000

Savings rate drops to 11.3%

29 September, 13:33
Italian family savings fall to lowest level since 2000 (ANSA) - Rome, September 29 - Italians appear to be feeling the impact of the economic crisis as family savings have falledn to their lowest level in more than a decade.

According to the national statistics agency, ISTAT, family savings fell 0.4% to 11.3% in the second quarter of 2011 and 1.% compared to the same period in 2010.

It was the lowest savings level recorded since 11.1% in the first quarter of 2000.

Family purchasing power in the second quarter dropped 0.2% compared to the previous quarter and 0.3% compared to the same quarter of 2010.

In the second quarter of 2011, Italy posted a primary surplus of 8.236 billion euros and the impact on GDP was 2.1%.

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