Household consumption over 1 percent up in June

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© Hollandse Hoogte / Berlinda van Dam
According to figures released by Statistics Netherlands (CBS), households spent 1.2 percent more in June 2023 year on year, adjusted for price changes. They bought both more services and more goods.

These are volume figures, i.e. figures adjusted for price changes. In addition, they have been adjusted for differences in the shopping-day pattern. The CBS Consumption Radar shows that circumstances for Dutch household consumption in July were, on balance, less unfavourable than in June.

Domestic household consumption (volume, adjusted for shopping days)
Year MonthChange (year-on-year % change)
2019July0.5
2019August0.5
2019September1.3
2019October1.4
2019November1.2
2019December2.4
2020January0.4
2020February2.6
2020March-7.4
2020April-17.6
2020May-11.8
2020June-6.9
2020July-3.6
2020August-0.5
2020September-3.9
2020October-4.5
2020November-7.1
2020December-11
2021January-11.7
2021February-11
2021March0.4
2021April12.8
2021May11.9
2021June8.1
2021July3.4
2021August4.1
2021September5.5
2021October9.4
2021November9.7
2021December5.3
2022January12.5
2022February14.7
2022March12.3
2022April10.9
2022May6.2
2022June5.3
2022July3.6
2022August2
2022September2
2022October0.9
2022November2.4
2022December9.5
2023January5.4
2023February2.6
2023March1.6
2023April-0.2
2023May0.5
2023June1.2

Households mainly buy more goods

Adjusted for price changes, households spent 2.0 percent more on durable goods than in June 2022. Spending on clothing, footwear and passenger cars was up in particular. Spending on other goods such as energy and motor fuels was 2.0 percent up in June year on year. Consumers mostly filled up their tanks more. However, households consumed less energy. Spending on food, beverages and tobacco was down by 1.9 percent.

Over two weeks ago, CBS reported that the volume of sales in retail trade in June was 1.4 percent lower than one year previously. The volume of sales in the non-food sector decreased by 0.3 percent and by 1.7 percent in the food sector. These figures have also been adjusted for the shopping-day pattern.

In June, consumers spent 0.9 percent more on services compared to the same month last year (adjusted for price changes). These services include insurances, public transport and visits to restaurants, events or hairdressers. Spending on services accounts for over half of total domestic consumer expenditure.

Domestic household consumption by category (volume, adjusted for shopping days), June 2023
 Change (year-on-year % change)
Other goods (e.g. gas)5.9
Durable goods2
Services0.9
Food, drinks and tobacco-1.9
Total1.2

Consumer climate less unfavourable in July

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 increase in consumption.

According to the CBS Consumption Radar, circumstances for Dutch household consumption in July were less unfavourable than in June. This is mainly because the year-on-year increase in stock market prices was larger. 

Sources

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