Household consumption down in June
Household spending on goods and services was 0.9 percent lower in June 2011 than in June 2010. This was the first decrease in well over a year. Spending on goods decreased by 3.4 percent, while spending on services increased by 1.3 percent. Consumption figures are adjusted for price changes and differences in the shopping-day pattern.
Spending on goods declined across the board. Dutch consumers spent 3.7 percent less on food, drinks and tobacco. Spending on durable goods was also down by 3.7 percent, the largest drop in eighteen months. The decline was mostly caused by lower car sales. These fell substantially relative to June 2010, while there had been considerable improvements in preceding months.
The Household Consumption Radar shows the conditions for consumption growth. After conditions barely had changed over the first seven months of 2011, they deteriorated across the board in August.
Household consumption remained stable in the first six months of 2011, hardly contributing to economic recovery. For more information, see the article “Consumption growth practically at a standstill”.
Domestic household consumption (volume, adjusted for shopping-days)
More figures can be found in dossier Business cycle.