Households cautious about spending

21/01/2010 15:00

Household spending on goods and services was 2.7 percent lower in November 2009 than in November 2008. In October, household spending was down by 2.5 percent. Household consumption was below the level of one year previously for almost one year. Consumption figures are adjusted for price changes and differences in the shopping-day pattern.

Household spending on services was 1.3 percent lower than in November 2008. Household spending on goods was down by 4.3 percent. Spending on services declined somewhat in October, whereas spending on goods increased marginally.

As a result of the mild weather conditions in winter, natural gas consumption had a downward effect on total consumption. The impact of lower gas consumption on total consumption is estimated at more than 0.5 percentage points. Households also spent far less on durable consumer goods compared to twelve months ago. New cars constitute an exception. For the last eighteen months, households spent less on food, beverages and tobacco relative to the same month one year previously.

Domestic household consumption (volume)

Domestic household consumption (volume)