Consumer spending up by more than 2 percent in June

22/08/2017 15:00
According to figures released by Statistics Netherlands (CBS), Dutch consumer spending was more than 2 percent up in June 2017 from June 2016. The growth rate has been above 2 percent for already three months in a row. Consumers mainly spent more on clothing and home furnishing articles.

The CBS Consumption Radar shows that circumstances for Dutch household consumption are more favourable in August than in June.

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

Domestic household consumption (volume, adjusted for shopping-days)
y
-1,8
-1,7
-2,2
-1,2
0
0,3
-1,4
-0,8
-2,4
-0,2
0,1
0
0,3
1,5
-0,5
0,3
0,7
0,6
2
2
2,1
1,7
1,3
2,3
1,5
1,4
2,2
1,7
0,8
0,8
0,7
0,4
1,1
0,4
1,9
0,7
2,4
1,5
1,1
2,6
2,8
2,5
3,3
1,3
1,7
2,7
2,5
2,2

Dutch consumers spend more on clothing and home furnishing articles

In June, Dutch consumers spent almost 5 percent more on durable goods such as clothing and home furnishing articles. Consumer spending on food, beverages and tobacco products was over 2 percent up from one year previously. Furthermore, consumers spent almost 1 percent more on the category ‘other goods’.

Last week, CBS already reported that - adjusted for the shopping-day pattern - retail turnover was over 4 percent up in June on a year-on-year basis. The volume of sales grew by almost 4 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 June 2016. 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)
y
4,6
2,1
1,7
0,9
2,2

Consumer climate more favourable in August than in June

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 more favourable in August than in June. This is mainly due to the fact that the mood of Dutch manufacturers about future employment in their sector was more positive. The mood of Dutch consumers about future unemployment also improved.

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

Sources

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