Household consumption over 1 percent up in December

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According to figures released by Statistics Netherlands (CBS), Dutch household consumption was 1.2 percent up in December 2017 over December 2016. The growth rate is lower than in the previous months. In December 2017, consumers mainly spent more on other goods, such as motor fuels.

The CBS Consumption Radar shows that circumstances for Dutch household consumption are, on balance, just as favourable in February 2018 as in December.

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

Domestic household consumption (volume, adjusted for shopping days) (year-on-year % change)
 change
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 S1.1
2016 O2.6
2016 N2.8
2016 D2.5
2017 J3.3
2017 F1.4
2017 M1.6
2017 A2.6
2017 M2.5
2017 J2.3
2017 J2.6
2017 A2.3
2017 S3
2017 O1.9
2017 N2.5
2017 D1.2

Dutch consumers mainly spend more on motor fuels and personal care

In December 2017, Dutch consumers spent almost 4 percent on the category ‘other goods’, such as motor fuels. Spending on cosmetics and perfume was also higher. In addition, consumer spending on food, beverages and tobacco products was almost 2 percent up on one year previously. On the other hand, consumer spending on durable goods was lower, for the first time since May 2016. Consumers spent less on cars in particular. However, they spent more on home furnishing articles, clothing and footwear.

Last week, CBS already reported that - adjusted for the shopping-day pattern - retail turnover was 3.5 percent up in December year-on-year. The volume of sales grew by over 2 percent. This number was also adjusted for the shopping-day pattern.

Lastly, consumer spending on services - accounting for over half of total domestic consumer expenditure - rose by over 2 percent compared to December 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), December 2017 (year-on-year % change)
 change
Other goods (e.g. gas)3.6
Services2.2
Food,drinks and tobacco0.7
Durable consumer goods-3.2
Total1.2

Consumer climate in February just as favourable as in December

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. Although the Radar indicators show a strong correlation with household consumption, improved circumstances are not necessarily translated into increased growth.

According to the CBS Consumption Radar, circumstances for Dutch household consumption are just as favourable in February as in December. Manufacturers’ expectations on future employment have improved in the radar of February. On the other hand, consumers are slightly less positive about their financial situation in the next 12 months.

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

Sources

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