The Australian Bureau of Statistics has shown that Australian households have lost 36 percent of their financial wealth since the economic crisis began.
Combined household wealth was at just about 787 billion AU dollars (786 billion U.S. dollars) at the end of March, down from a peak of 1,246 billion dollars in September 2007, local newspapers quoted the Australian Bureau of Statistics as saying on Saturday.
The total includes household wealth held in cash, bank deposits, bonds and shares. Significantly it excludes wealth held in the form of superannuating and real estate, and both of these have also dived since the crisis began.
Financial wealth per household as measured by the Australian Financial Accounts has slid from 159,000 dollars to 98,000 dollars-- its lowest point for more than three years. It has slipped from 58,900 dollars to 36,200 dollars per person.
(One AU dollar equals 0.8045 U.S. dollar)
Source:Xinhua
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