Dutch households were as reluctant to spend money in May 2005 as they were in the previous months. The volume of domestic consumption was down 0.7percent on May 2004. The decrease was fully contributed to the expenditure on durable goods.
The consumption of food, beverages and tobacco was slightly higher than the May 2004 level. Expenditure on services was virtually the same as in May 2004 according to the latest figures by Statistics Netherlands. These figures are adjusted for differences in prices and shopping day patterns.
Less consumption for the fifth month in a row
May 2005 was the fifth month in a row in which the consumption volume, corrected for price changes and shopping day patterns was lower than the year before. The May figures fit the consumption pattern shown during the first months of 2005. Expenditure on durable goods fell sharply during the first five months compared to the same period of 2004.
Consumption of durable goods shrinking
During the first five months of 2005 people bought fewer new cars. The volume of expenditure of furniture, household appliances, leather wares and shoes was also a lot less than in 2004. In 2004 and 2003 the expenditure on durable goods equally saw a drop in volume.
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