Consumption growth practically at a halt

23/12/2008 15:00

Dutch households spent 0.2 percent more on goods and services in October than twelve months previously. In the first six months of 2008, expenditure still grew by more than 2 percent on average. Subsequently, growth slowed down and practically came to a standstill in October. Consumption figures are adjusted for price changes and differences in the shopping-day pattern.

Household spending on goods was 1 percent down on October 2007. For the fifth month running, the volume of spending on food, drinks and tobacco was lower than twelve months previously. Expenditure on durable goods decreased by 1.1 percent. Spending on new cars and on furniture in particular were lower than twelve months previously. Households did spend more on consumer electronics and household appliances, on the other hand.

The volume of household spending on services grew by 1.3 percent. In the first six months of 2008, consumer spending on services rose by approximately 3 percent compared with the same month one year previously. Subsequently, growth slowed down dramatically. Consumers spent less in hotels and restaurants in recent months.

Domestic household consumption (volume)

Domestic household consumption (volume)