Household spending 7 percent down in June

© Hollandse Hoogte / Frank Muller / Zorginbeeld
According to figures released by Statistics Netherlands (CBS), in June 2020 consumers spent 7.0 percent less than in June 2019. The decline is smaller than in April and May, but still the third largest contraction in domestic household consumption ever recorded. Consumers spent less on services, but more on goods.

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)
2016July2.1
2016August1.2
2016September0.9
2016October1.7
2016November2.4
2016December1.6
2017January3.3
2017February2.6
2017March2.2
2017April2.8
2017May3
2017June2.7
2017July2.5
2017August2.3
2017September3.3
2017October1
2017November2.6
2017December1.7
2018January1.7
2018February3.2
2018March3
2018April3.2
2018May2
2018June2.6
2018July2.8
2018August2.6
2018September2
2018October2.1
2018November2.2
2018December1.7
2019January1.3
2019February0.9
2019March1.4
2019April1.5
2019May2.5
2019June1.4
2019July1.1
2019August1.1
2019September2
2019October2
2019November1.7
2019December3.1
2020January0.9
2020February1.2
2020March-6.4
2020April-16.5
2020May-11.9
2020June-7

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.

Domestic household consumption by category (volume, adjusted for shopping days)
 June 2020 (year-on-year % change)May 2020 (year-on-year % change)
Durable goods3.1-2.9
Food, drinks and tobacco2.76
Other goods (e.g. gas)0.1-7.2
Services-13.9-20.2
Total-7-11.9

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

Sources

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