Household spending 7 percent down in June

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

Lower spending on services

In June, consumers spent 13.9 percent less on services than in the same month last year. This mainly applied to e.g. restaurants, hairdressers, theatres, gyms and football games as well as public transportation. However, consumers spent more on services such as telephone and internet subscriptions, insurances, housing services, private lease and courier services.

Consumer spending on durable goods increased by 3.1 percent. They mainly spent more on electrical appliances and home furnishings compared to June 2019, but less on clothing and footwear. Consumer spending on food, beverages and tobacco was 2.7 percent up year-on-year. Spending on other goods, such as natural gas and motor fuels, was at virtually the same level as one year previously.

Two weeks ago, CBS reported a year-on-year turnover growth in retail trade of 9.8 percent in June 2020. This is the highest growth rate since publication of data adjusted for the shopping-day pattern started in 2005. The volume of sales increased by 7.2 percent. Turnover was up in both the food sector and the non-food sector.