Consumer spending up by more than 2 percent in May

20/07/2017 15:00
According to figures released by Statistics Netherlands (CBS), Dutch consumer spending was more than 2 percent up in May 2017 from May 2016. The growth rate is lower compared to the preceding month. Consumers mainly spent more on clothing and home furnishing articles.

The CBS Consumption Radar shows that circumstances for Dutch household consumption are somewhat more favourable in July than in May.

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

Dutch consumers spend more on clothing and home furnishing articles

In May, Dutch consumers spent almost 6 percent more on durable goods such as clothing and home furnishing articles. Consumer spending on food, beverages and tobacco products was circa 1 percent up from one year previously. Furthermore, consumers spent almost 3 percent more on the category ‘other goods’.

Last week, CBS already reported that - adjusted for the shopping-day pattern - retail turnover was 3.5 percent up in May on a year-on-year basis. The volume of sales grew by 3 percent. This number was also adjusted for the shopping-day pattern.

Household spending on services - accounting for over half of total domestic consumer spending - rose by almost 2 percent compared to May 2016. These services include house rent, public transport, visits to restaurants or hairdressers and insurance premiums.

Consumer climate somewhat more favourable in July than in May

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

According to the CBS Consumption Radar, circumstances for Dutch household consumption are somewhat more favourable in July than in May. This is mainly due to the fact that the mood of Dutch consumers about their personal financial situation in the next 12 months improved.

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

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