Domestic consumption growth slows down due to mild weather conditions

Dutch households spent 2.3 percent less on goods and services in March 2014 than in March 2013. In February, domestic consumption was down by 1.0 percent relative to February 2013. According to the Central Bureau of  Statistics (CBS), households used far less natural gas in the first months of 2014 than in the same period in 2013 due to the relatively mild weather conditions. Consumption figures have been adjusted for price changes and differences in the shopping-day pattern.

Household spending on other goods, including natural gas, was down by 14.4 percent in March relative to twelve months previously. Spending on food, drinks and tobacco products declined by 3.2 percent, but households spent 2.5 percent more on durable goods. Household spending on services was 0.3 percent up from 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 in May 2014 relative to April.

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.