Household spending in decline due to lower natural gas consumption

Dutch households spent 1.2 percent less on goods and services in February 2014 than in February 2013. In January, domestic consumption was down by 1.7 percent. Due to the relatively mild weather conditions, households used fare less natural gas to heat their homes in the first months of 2014 than in the same period in 2013. Consumption figures have been adjusted for price changes and differences in the shopping-day pattern.

In February, household spending on other goods, including natural gas, was down by 11.2 percent relative to twelve months previously. In January, spending had been 9.7 percent lower. Households skimped 0.3 percent on food, drinks and tobacco products in February, but they spent 4.4 percent more on durable goods. Household spending on services was at approximately the same level as twelve months previously.

By means of six indicators, the Household Consumption Radar shows whether circumstances for Dutch household consumption have become more or less favourable. The radar shows that circumstances for consumption have improved marginally in April 2014 relative to March.

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.