The CBS Consumption Radar shows that circumstances for Dutch household consumption in June are, on balance, less favourable than in April.
Consumption figures have been adjusted for price changes and differences in the shopping-day pattern.
Spending on durable goods up in particular
In April, consumers spent 2.2 percent more on durable goods than in the same month last year, mainly on home furnishings and household appliances. Car purchases were down again, however.
Spending on other goods such as energy and motor fuels was up by 1.6 percent year-on-year. Furthermore, consumers spent 1.5 percent more on food, beverages and tobacco than one year earlier.
Last week, CBS reported that retail turnover was 2.3 percent up in April year-on-year. The volume of sales increased by 2.3 percent as well. These figures were also adjusted for the shopping-day pattern.
Consumer spending on services – which accounts for over half of total domestic consumer expenditure - rose by 1.9 percent in April 2019 year-on-year. These services include insurance premiums, house rent, public transportation and visits to restaurants or hairdressers.
|Durable consumer goods||2.2|
|Other goods (e.g. gas)||1.6|
|Food, drinks and tobacco||1.5|
Consumer climate in June less favourable than in April
Every month, CBS publishes figures about circumstances for household consumption in the CBS Consumption Radar. Household consumption is influenced by factors such as 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 June are less favourable than in April. Manufacturers were less positive about future employment and the year-on-year increase in share prices turned into a decrease.