Household spending 1.1 percent up in February

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© Hollandse Hoogte / Flip Franssen
According to figures released by Statistics Netherlands (CBS), Dutch consumers spent 1.1 percent more in February 2020 than in February 2019. This was due to higher spending on electrical appliances, home furnishing and services. The growth rate was slightly higher than in January.

The CBS Consumption Radar shows that circumstances for Dutch household consumption in April are, on balance, more unfavourable than in February.

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

Domestic household consumption (volume, adjusted for shopping days)
Year MonthChange (year-on-year % change)
2016February0
2016March1.1
2016April0.8
2016May1.4
2016June0.8
2016July2.1
2016August1.2
2016September0.9
2016October1.7
2016November2.4
2016December1.6
2017January3.3
2017February2.7
2017March2.2
2017April2.8
2017May3
2017June2.7
2017July2.5
2017August2.3
2017September3.3
2017October1
2017November2.5
2017December1.7
2018January1.8
2018February3.2
2018March3.1
2018April3.3
2018May2.2
2018June2.7
2018July3
2018August2.8
2018September2.2
2018October2.3
2018November2.5
2018December2
2019January1.4
2019February1
2019March1.5
2019April1.6
2019May2.5
2019June1.4
2019July1
2019August1
2019September1.9
2019October1.9
2019November1.6
2019December2.9
'20January1

Spending on appliances and home furnishing up in particular

In February, consumers spent 2.2 percent more on durable goods than in the same month last year, mainly on electrical appliances and home furnishings. Consumer spending on food, beverages and tobacco rose by 0.4 percent. Spending on other goods such as natural gas and motor fuels was 2.8 percent lower than in February 2019.

Last week, CBS reported that the Dutch retail sector achieved 5.0 percent year-on-year turnover growth in February 2020. The volume of sales increased by 3.5 percent. 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 1.8 percent in February year-on-year. These services include insurance premiums, house rent, public transportation and visits to restaurants or hairdressers.

Domestic household consumption by category (volume, adjusted for shopping days), February 2020
 change (year-on-year % change)
Durable goods2.2
Services1.8
Food, drinks and tobacco0.4
Other goods (e.g. gas)-2.8
Total1.1

Consumer climate in April more unfavourable than in February

Every month, CBS publishes figures about the 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 April are more unfavourable than in February. This is mainly due to the fact that consumers’ expectations on future unemployment and their financial situation for the next twelve months deteriorated significantly. In addition, there was a much sharper decline in share prices.

The household consumption figures for the reporting month of February do not yet reflect the effects of the coronavirus outbreak.

The figures presented in this news release are provisional and subject for revision.

Sources

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