Decline household consumption more substantial

23/10/2012 09:30

Household spending on goods and services was 2.0 percent down in August 2012 from August 2011.The decline is more substantial than in July, when household consumption was 1.6 percent down on one year previously. Consumption figures have been adjusted for price changes and differences in the shopping-day pattern.

Spending on durable consumer goods in August 2012 was 7.2 percent below the level of  August 2011. Consumers spent considerably less on furniture, consumer electronics, clothes and shoes.

Spending on food, drinks and tobacco was 0.4 percent down on August 2011, whereas in July, household spending on these products was 2.7 percent up on one year previously. Spending on services was equal to the level of August 2011. Household spending on other goods (e.g. motor fuels) fell by 6.1 percent.

The Household Consumption Radar shows the conditions for household consumption. These conditions deteriorated in October.

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.

For more information on economic indicators, the reader is referred to the Economic Monitor.