Household consumption continues to grow

21/07/2006 10:30

In May 2006, Dutch households spent considerably more than one year previously. Consumer spending was 3.5 percent up on May 2005. Consumers spent much more money on durable goods. According to figures published by Statistics Netherlands, household consumption has grown since mid-2005, in particular in recent months.

More money sent on durable goods

Households spent 11.1 percent more on durable goods in May 2006 than in the same month last year. Clothes and shoes were popular items, but households also spent much more money on home furnishing, consumer electronics and cars. Whether consumers buy durable goods is strongly affected by the economic situation. Household spending on food, drinks and tobacco also increased distinctly ((3.6 percent) compared to twelve months ago.

Modest growth spending on services

Spending on services grew more modestly than spending on goods. Compared to May 2005, household spending on services increased by 1.2 percent. Dutch households spent more on housing, culture, recreation, transport and communication, hotels and restaurants and financial and business services.