Consumption growth presses ahead. In February Dutch domestic household consumption was 2.6 percent up on the same month last year. It is the highest growth rate in recent years. Monthly figures have been corrected for price changes and differences in shopping day patterns.
Consumption growth in February is almost entirely attributable to goods. Households spent 4.9 percent more on goods than a year earlier. Consumers bough in particular more electronics, clothes, shoes and home furnishings. For the first time in over a year consumers bough more cars. Furthermore, consumers in February spent more on food, beverages and tobacco.
The expenditure on services also increased, but the growth rate was limited to 0.6 percent. For nine months now, the expenditure on goods has been growing faster than the expenditure on services.
In 2006 a new system of health care insurance came into effect in the Netherlands. This will have a considerable effect on consumer spending, as it results in a shift from consumption by government. This shift distorts the development of consumption by households and thus the course of the business cycle. Therefore Statistics Netherlands has decided to calculate the monthly year-on-year changes exclusive of medicines, health care articles, health services and welfare.
Domestic household consumption (volume)