Consumption growth continues
In April 2007, household spending increased 2.0 percent relative to April 2006. Dutch consumers spent 2.7 percent more on services, e.g. public transport, hotels and restaurants and communication. Expenditure on goods was 1.1 percent up.
Just as in the preceding months, the growth was curbed by low energy consumption. With 0.9 percent, the increase in household spending on food, drinks and tobacco was fairly modest. In April, too, the highest increase (6.4 percent) was observed in spending on durable goods. This is consistent with the results of the Consumer Confidence Survey over the first four months of this year.
In this survey, consumers are asked whether they think it is a good time for buying expensive items, like TV sets and furniture. The majority of interviewed responded affirmatively.
With a growth of 2.7 percent, household spending on services was above last year’s average. Hotels and restaurants also profited handsomely from consumers’ increased willingness to buy.
Figures are adjusted for price changes and differences in the number of shopping days.
Domestic household consumption (volume)