People 15 Years and Over Saving at a Financial Institution in the Past Year for Luxembourg
DDAI06LUA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
61.58
Year-over-Year Change
18.39%
Date Range
1/1/2011 - 1/1/2017
Summary
This economic trend measures the percentage of people aged 15 and older in Luxembourg who saved money at a financial institution over the past year. It provides insights into the savings behavior and financial inclusion of the Luxembourg population.
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' metric tracks the proportion of the adult population in Luxembourg that has utilized formal banking or financial services to save money over the previous 12 months. This indicator offers valuable data points for analyzing financial access and the overall savings culture within the country.
Methodology
The data is collected through household surveys conducted by national statistical agencies.
Historical Context
This indicator is useful for policymakers and financial institutions to assess financial inclusion and inform strategies to promote greater access to formal savings mechanisms.
Key Facts
- Luxembourg has one of the highest rates of formal savings in the EU.
- Saving at financial institutions promotes economic stability and asset-building.
- Access to savings accounts is a key indicator of financial inclusion.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of people aged 15 and older in Luxembourg who have saved money at a financial institution, such as a bank, in the past year.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the financial inclusion and savings behavior of the Luxembourg population, which is important for policymakers and financial institutions to understand and promote greater access to formal savings mechanisms.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by national statistical agencies.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers and financial institutions to assess financial inclusion and inform strategies to promote greater access to formal savings products and services.
Q: Are there update delays or limitations?
A: The data may be subject to survey sampling and reporting delays, but generally provides a reliable indicator of savings behavior in Luxembourg.
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Citation
U.S. Federal Reserve, People 15 Years and Over Saving at a Financial Institution in the Past Year for Luxembourg (DDAI06LUA156NWDB), retrieved from FRED.