Net wealth of German households falling. Despite the robust health of the German economy, the Germans themselves do not appear to be the first to benefit from this performance, according to a study by the German Institute for Economic Research, DIW Berlin. According to the study, German households saw their wealth increase by €500 (0.4%) between 2003 and 2013. Nonetheless, if inflation is taken into account, their real net wealth fell by €20,000 or 15% from €137,000 to €117,000. This is despite saving rates of more than 9% a year, in proportion to income. When they save, people are more likely to invest in low risk investments that are also less profitable, such as saving bank certificates, current accounts, housing savings schemes and private pensions that, according to the authors of the report, do not even manage to keep up with inflation. This study therefore consolidates the idea that the wealth held by German citizens is less than it is usually thought to be. It also confirms an analysis by the European Central bank (ECB) in 2014, according to which the net average wealth of households in Germany was one of the lowest in Europe at a rate of €195,000. This was published at the time of the bailout of Cyprus and provoked a number of different commentaries because it is estimated that the individual wealth of Cypriots was four times as high as it was for German citizens. (Original version in French by Isabelle Lamberty)