Household consumption almost 14 percent up in February

Consumption figures have been adjusted for price changes and differences in the shopping-day pattern. The CBS Consumption Radar shows that circumstances for Dutch household consumption in April are, on balance, less favourable than in February.

Consumers spent more on durable goods and services

In February 2022, consumers spent 32.0 percent more on durable goods year on year. Spending on clothes, footwear, home furnishing and electrical appliances was up in particular. In the course of February, almost all coronavirus measures were lifted; non-essential shops in particular were still affected by a hard lockdown one year previously.

Adjusted for price changes, there was a year-on-year increase of 1.4 percent in the consumption of other goods such as natural gas, electricity, motor fuels and personal care. Consumption of energy and motor fuels declined, but consumers spent more on personal care products. Finally, consumption of food, beverages and tobacco was down by 4.4 percent relative to February 2021.
Three weeks ago, CBS reported that in February 2022 the volume of sales in retail trade grew by 12 percent relative to February 2021. The volume of sales in the non-food sector grew by almost 51 percent, but shrank in the food sector by over 7 percent. These figures have also been adjusted for the shopping-day pattern.

In February, consumers spent 16.8 percent more on services such as telephone and internet subscriptions, insurances, visits to hairdressers, restaurants and football matches compared to February 2021 (adjusted for price changes). That month, restaurants, bars, amusement parks, cinemas, theatres, zoos, museums and swimming pools were still closed for the whole month. In February 2022, consumption of services was still 3.3 percent lower than in February 2020. In general, spending on services accounts for over half of total domestic consumer expenditure.

Consumer climate less favourable 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 do not necessarily translate into a higher consumption increase.

According to the CBS Consumption Radar, circumstances for Dutch household consumption are less favourable in April compared to February. This is largely due to consumers being more pessimistic about their financial future and less positive about future unemployment developments. Furthermore, stock market prices showed a less substantial year-on-year rise.