Moderate growth household consumption

21/12/2010 15:00

In October 2010, household spending on goods and services was 1.1 percent up on October 2009, as against 1.7 percent in September. Consumption figures have been adjusted for price changes and differences in the shopping-day pattern.

Dutch households spent more on goods and services in October. Spending on durable consumer goods increased most. Consumer spending on household appliances, computers and most notably cars, was higher, but Dutch households spent less on clothing, shoes and home furnishing articles than one year previously. They also spent more on natural gas.

Car sales and the higher natural gas consumption accounted for about half of consumption growth.

Although household consumption was higher than twelve months previously for the eight month running, the growth rate remains moderate. The decline of household consumption was unprecedented in 2009. The level of household consumption is in line with the trend indicated in the Household Consumption Radar, which shows that the conditions for consumption growth have gradually improved in the course of 2010.

Domestic household consumption (volume, adjusted for shopping-days)

Domestic household consumption (volume, adjusted for shopping-days)

More figures can be found in dossier Business cycle.