Consumer spending marginally lower

23/01/2009 15:00

Dutch households spent 0.4 percent less on goods and services in November 2008 than in November 2007. Household spending relative to one year previously declined for the first time in nearly five years. Consumption growth had already come to a virtual standstill in October. Consumption figures are adjusted for price changes and differences in the shopping-day pattern.

Household spending on goods was 1.5 percent down. Expenditure on durable goods decreased most: i.e. 1.8 percent. In October, spending on durables was also lower than twelve months previously. This consumption category is most receptive to economic fluctuations. Spending on clothes and shoes, new cars and furniture in particular was down on November 2007. On the other hand, households spent more on consumer electronics and household appliances. For the sixth month running, the volume of spending on food, drinks and tobacco was lower than twelve months previously, but the decline was less substantial than in the two preceding months.

The volume of household spending on services grew by a scant 0.6 percent in November, the smallest growth over the first eleven months of 2008.

Domestic household consumption (volume)

Domestic household consumption (volume)