Household spending 6.5 percent down in November
Consumption figures have been adjusted for price changes and differences in the shopping-day pattern.
|Year||Month||Change (year-on-year % change)|
More spent on services, less on durable goods
In November, consumers spent 14.1 percent less on services, such as visits to restaurants, hairdressers, cinemas, museums and football matches, than one year previously. The contraction was more substantial than in October. Restaurants and bars were closed for the whole month of November. Amusement parks, cinemas, theatres, zoos, museums, libraries and swimming pools had to close as of 4 November. Spending on services accounts for over half of total domestic consumer expenditure.
Consumer spending on durable goods increased by 6.0 percent. Households mainly spent more on electrical appliances and home furnishings compared to November 2019. Spending on transport equipment, clothing and footwear, on the other hand, was lower than one previously. Consumer spending on food, beverages and tobacco was 4.9 percent up year-on-year. Spending on other goods such as natural gas, electricity and motor fuels was 2.9 percent down. Consumers purchased substantially less fuel. Furthermore, natural gas consumption for heating was lower than in November 2019 as a result of milder temperatures.
Three weeks ago, CBS reported a year-on-year increase in retail trade turnover of 9.6 percent in November 2020. The volume of sales increased by 8.4 percent. Turnover was up in both the food and the non-food sector. These figures have been adjusted for the shopping-day pattern as well.
|Change (year-on-year % change)|
|Food, drinks and tobacco||4.9|
|Other goods (e.g. gas)||-2.9|
- StatLine - Consumption expenditure of households
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- Dossier - Business Cycle