Modest consumption growth
In July, households in the Netherlands spent 1.5 percent more on goods and services than in the same month last year. This growth lags behind the growth rate in the preceding months. The figures have been corrected for price changes and differences in shopping day patterns.
Households spent more on food, beverages and tobacco in particular: +3.3 percent. Spending on durable goods increased by 2.2 percent. This is a considerably smaller growth than in previous months. In general, spending on durable goods is sensitive to economic fluctuations. On average, consumer spending on goods was up by 2.0 percent on July 2005, while spending on services grew by 1.0 percent.
Despite the relatively modest growth in July, consumption expenditure has shown a sturdy increase in 2006, with Dutch households spending 2.7 percent more than in the first seven months of 2005. In previous years, consumption grew by considerably less. Consumption grew by 1.0 and 0.9 percent in 2004 and 2005 respectively.
About one third of consumption spending is on retail goods. For more information on monthly retail turnover statistics and on consumption see the Focus article Short-term statistics on retail trade and consumption by households published on 31 August 2006.
The consumption figures are influenced by the new health care system introduced in January 2006.The figures had to be revised: the monthly figures in 2006 are exclusive of health care. More information can be found in the Focus article The effect of the new health insurance system on the key economic indicators published on 24 March 2006.
Domestic household consumption (volume)