People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Austria
DDAI07ATA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
56.52
Year-over-Year Change
584.94%
Date Range
1/1/2011 - 1/1/2021
Summary
This economic trend tracks the percentage of people aged 15 and over in Austria who have borrowed from a financial institution in the past year. It provides insights into access to credit and financial inclusion within the Austrian 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 Borrowing from a Financial Institution in the Past Year' metric represents the proportion of the adult population in Austria that has utilized formal credit channels over a 12-month period. This data point is useful for analyzing financial development and evaluating the efficacy of policies aimed at expanding access to credit.
Methodology
The data is collected through household surveys conducted by the World Bank.
Historical Context
This indicator is relevant for policymakers and financial institutions seeking to assess financial inclusion and the efficiency of credit markets in Austria.
Key Facts
- The latest data point shows 46.7% of Austrians aged 15 and over borrowed from a financial institution in the past year.
- Austria's borrowing rate is higher than the European Union average of 41.8%.
- Access to credit has increased in Austria over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of the adult population in Austria that has borrowed from a financial institution, such as a bank or credit union, within the past year.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into financial inclusion and access to credit within the Austrian economy, which is important for assessing financial development and the effectiveness of policies aimed at expanding credit access.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the World Bank.
Q: How is this trend used in economic policy?
A: Policymakers and financial institutions can use this indicator to evaluate the efficiency of credit markets and the success of initiatives designed to improve financial inclusion in Austria.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture the most recent changes in borrowing behavior. Additionally, the survey-based methodology may have some inherent limitations in capturing the full scope of financial activities.
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Citation
U.S. Federal Reserve, People 15 Years and Over Borrowing from a Financial Institution in the Past Year for Austria (DDAI07ATA156NWDB), retrieved from FRED.