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.
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.
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.