Largest increase in consumer spending in six years

According to figures released by Statistics Netherlands (CBS), Dutch consumer spending was 2.8 percent up in November 2016 from November 2015. This is the largest increase in six years. Consumers spent more on durable goods such as clothes and household appliances.They also spent significantly more on natural gas due to a relatively cold month. The CBS Consumption Radar shows that circumstances for Dutch household consumption are more favourable in January than in November.

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

Domestic household consumption (volume, adjusted for shopping-days)
Domestic household consumption (volume, adjusted for shopping-days)
 % change
2012 D-1
2013 J-1.9
2013 F-2.3
2013 M-0.8
2013 A-2.1
2013 M-2
2013 J-2.5
2013 J-1.8
2013 A-1.7
2013 S-2.2
2013 O-1.2
2013 N0
2013 D0.3
2014 J-1.4
2014 F-0.8
2014 M-2.4
2014 A-0.2
2014 M0.1
2014 J0
2014 J0.3
2014 A1.5
2014 S-0.5
2014 O0.3
2014 N0.7
2014 D0.6
2015 J2
2015 F2
2015 M2.1
2015 A1.7
2015 M1.3
2015 J2.3
2015 J1.5
2015 A1.4
2015 S2.2
2015 O1.7
2015 N0.8
2015 D0.8
2016 J0.7
2016 F0.4
2016 M1.1
2016 A0.4
2016 M1.9
2016 J0.7
2016 J2.4
2016 A1.5
2016 S1.2
2016 O2.7
2016 N2.8

Dutch consumers mainly spend more on clothes, household appliances and natural gas

In November, Dutch consumers spent more on other goods, mainly on natural gas. Spending in this category was up by 8.2 percent compared to last year. This was mainly because the month of November was much colder than last year.

Furthermore, consumers spent 4.4 percent more on durable goods like clothes, household appliances and home furnishing articles. Spending on food, beverages and tobacco products was 0.8 percent up compared to last year.

Last week, CBS already reported that – adjusted for the shopping-day pattern – retail turnover was 4.5 percent up in November year-on-year. The increase was mainly generated by shops in the non-food sector, like clothes shops.

Lastly, household spending on services - accounting for over half of total domestic consumer spending - increased by 1.7 percent relative to November 2015. 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)
Domestic household consumption by category (volume, adjusted for shopping-days)
 % change
Other goods (e.g. gas)8.2
Durable consumer goods4.4
Services1.7
Food; drinks and tobacco0.8
Total2.8

Consumer climate more favourable in January than in November

CBS publishes figures about circumstances for household consumption on a monthly basis. Household consumption is affected by consumers’ expectations, developments on the labour market and the personal financial situation of consumers.

On balance, circumstances for Dutch household consumption are more favourable in January than in November, according to Statistics Netherlands’ Household Consumption Radar. This is mainly due to the fact that consumers are more optimistic about future unemployment and due to a favourable development of Dutch share prices. On the other hand, the mood of Dutch manufacturers about future employment in their sector was slightly more negative.

The figures presented in this news release are provisional and can be adjusted.

Sources

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