Dutch consumer spending up

According to figures released by Statistics Netherlands (CBS), Dutch consumer spending on goods and services was 0.8 percent up in June 2016 from June 2015. Consumers spent particularly more on durable goods and services.

The CBS Consumption Radar shows that circumstances for Dutch household consumption are about the same in August as in June.

Consumption figures are adjusted for price changes and differences in the shopping-day pattern.

Domestic household consumption (volume, adjusted for shopping-days)

Dutch consumers spend more on durable goods and services

Spending on durable goods was 1.8 percent up from one year previously. In particular, consumers spent more on home furnishing and household appliances. Consumer spending on food, beverages and tobacco products and spending in the category ‘other goods’ - which includes natural gas - was down from one year previously.

Last week, CBS already reported that retail turnover was 1.7 percent up from June 2015. Adjusted for the shopping-day pattern, retail turnover would have been the same as in June last year.

Lastly, household spending on services - accounting for over half of total domestic consumer spending - grew by 1.7 percent. These services include house rent, public transport, visits to restaurants or hairdressers and insurance premiums.

Domestic household consumption by category (volume, adjusted for shopping-days)

Consumer climate about the same in August as in June

CBS also publishes figures about circumstances for household consumption. Household consumption is affected by consumers’ expectations, their personal financial situation and developments on the job market.

On balance, circumstances for Dutch household consumption were about the same in August as in June, according to Statistics Netherlands’ Household Consumption Radar. On an annual basis share prices rose, but in the previous months share prices fell. Also, the year-on-year growth of the employed labour force was higher. However, the mood of Dutch consumers about their personal financial situation over the next 12 months deteriorated.

The numbers in this publication are provisional and can be adjusted.

Sources

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