The CBS Consumption Radar shows that circumstances for Dutch household consumption in January are, on balance, less favourable than in November.
Consumption figures have been adjusted for price changes and differences in the shopping-day pattern.
Dutch households mainly spend more on household appliances
In October, consumers spent almost 3 percent more on on durable goods. Spending on household appliances and clothing was up in particular. However, consumers spent considerably less on cars. Consumer spending on the category ‘other goods’, such as petrol and natural gas, was up by almost 3 percent as well. Consumers spent 1 percent more on food, beverages and tobacco.
Last week, CBS reported that retail turnover was over 4 percent up in November year-on-year. The volume of sales increased by 3.2 percent. This figure was also adjusted for the shopping-day pattern.
Consumer spending on services - accounting for over half of total domestic consumer expenditure - rose by almost 2 percent in November 2018 year-on-year. These services include insurance premiums, house rent, public transportation and visits to restaurants or hairdressers.
|Other goods (e.g. gas)||2.8|
|Durable consumer goods||2.6|
|Food, drinks and tobacco||1|
Consumer climate in January less favourable than in November
CBS publishes figures about circumstances for household consumption on a monthly basis in the CBS Consumption Radar. 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 in January are less favourable than in November.Manufacturers’ expectations on future employment were less positive, while consumer confidence deteriorated further.