Continuous consumption growth

24/04/2008 15:00

Dutch households spent 3.1 percent more on goods and services in February 2008 than one year previously. In January the increase was 2.0 percent. February had one Friday extra this year. Consumption figures have been corrected for this leap day and for changes in consumer prices.

Spending on goods rose by 3.4 percent in February. With 5.7 percent, spending on durable consumer goods grew by most. These include clothing, computers, televisions and cars. The purchase of these articles is very sensitive to movements in economic trends. Household spending on food, drinks and tobacco was 1.2 percent higher than in February 2007.

Households spent 2.8 percent more on services. This increase is mainly caused by the introduction of a policy excess in health care insurance at the beginning of 2008. As a result, consumers started to pay more for medical service.

Consumption growth has remained high, despite a relapse in consumer confidence. Real disposable income of Dutch households improved considerably in 2007, by nearly 4 percent. This increase was even marginally larger than in 2006, and the largest since 2001.

Domestic household consumption (volume)

Domestic household consumption (volume)