According to figures released by Statistics Netherlands (CBS) today, Dutch consumer spending on goods and services was 1.8 percent up in October 2015 from October 2014. Natural gas consumption increased noticeably. The CBS Consumption Radar shows that circumstances for Dutch household consumption have improved marginally in November and December relative to October.
Consumption figures have been adjusted for price changes and differences in the shopping-day pattern.
Higher natural gas consumption in October
In October, consumers spent more on natural gas than in October 2014. As a result, spending in the category ‘other goods’, which includes natural gas, was 7.4 percent up from one year previously. Temperatures were lower in October than in October 2014.
Spending on food, beverages and tobacco products rose by 1.5 percent. Consumers spent 0.6 percent more on durable goods than one your previously. Spending on home furnishing articles and clothing were up from the previous year.
Lastly, household spending on services - accounting for more than half of total domestic consumer spending - grew by 0.9 percent. These services include house rent, public transport, visits to restaurants or hairdressers and insurance premiums.
Consumer climate slightly more favourable in December than in October
On balance, circumstances for Dutch household consumption were slightly more favourable in December than in October and November, according to Statistics Netherlands’ Household Consumption Radar. This is mainly caused by the fact that Dutch share prices rose more rapidly on an annual basis. Household consumption is affected by consumers’ expectations, their personal financial situation and developments on the job market.
Today, Statistics Netherlands will also release information on Dutch consumer confidence in December.