People 15 Years and Over Saving at a Financial Institution in the Past Year for Australia
DDAI06AUA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
69.17
Year-over-Year Change
11.71%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend measures the percentage of people aged 15 and over in Australia who reported saving at a financial institution in the past year. It provides insight into household savings behavior and financial inclusion.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 'People 15 Years and Over Saving at a Financial Institution in the Past Year for Australia' trend represents the share of the adult population in Australia that utilizes formal financial services for saving purposes. This metric is a key indicator of financial access and financial health at the household level.
Methodology
The data is collected through nationally representative household surveys conducted by the World Bank.
Historical Context
This trend is valuable for policymakers and financial institutions to understand financial inclusion and design appropriate products and services.
Key Facts
- Australia's adult financial inclusion rate was 99.9% in 2017.
- Formal savings are a key component of household financial resilience.
- Savings behavior is influenced by income levels, financial literacy, and access to banking services.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of adults aged 15 and over in Australia who reported saving money at a financial institution in the past year.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into financial inclusion and household savings behavior, which are important for policymakers and financial institutions to understand and address.
Q: How is this data collected or calculated?
A: The data is collected through nationally representative household surveys conducted by the World Bank.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and financial institutions to design appropriate financial products and services to promote financial inclusion and household financial resilience.
Q: Are there update delays or limitations?
A: The data is published on an irregular basis, with the most recent update for Australia available for 2017.
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Citation
U.S. Federal Reserve, People 15 Years and Over Saving at a Financial Institution in the Past Year for Australia (DDAI06AUA156NWDB), retrieved from FRED.