According to figures released by Statistics Netherlands (CBS) today, Dutch consumer spending on goods and services was 2.2 percent up in June 2015 from the same month last year. Consumers spent more on home furnishing articles and household appliances.
Consumption figures have been adjusted for price changes and differences in the shopping-day pattern.
Dutch consumers spent more on home furnishing articles and household appliances
With 5.7 percent, household spending on durable goods grew most strongly. Just as in the preceding months, consumers spent more on home furnishing articles and household appliances. This is consistent with the positive developments on the housing market. Consumers also spent more on passenger cars in June.
Dutch consumers spent 1.8 percent more on food, drinks and tobacco products than in June 2014. Spending in the category ‘other goods’, which includes energy and motor fuels, was up by 3.9 percent. Household spending on services - accounting for more than half of total domestic consumer spending - grew by 1.0 percent. These services include house rent, public transport, visits to restaurants or hairdressers and insurance premiums.
Circumstances for consumption better in August than in June
According to Statistics Netherlands’ Household Consumption Radar, circumstances for Dutch household consumption are, on balance, more favourable than in June. In July, circumstances were less good than in June. By means of six indicators, the Household Consumption Radar shows whether circumstances for Dutch consumption have become more or less favourable.
Circumstances have improved in August relative to July, because Dutch consumers were much more optimistic about future employment than in the previous month. On an annual basis, Dutch share prices also rose more rapidly than one month previously. Dutch manufacturers were less pessimistic about future employment in their sector.
For more information on economic indicators, see the Economic Monitor.