Household consumption up by almost 2 percent in December

These are volume figures, which means they are adjusted for price changes. In addition, they have been adjusted for differences in the shopping-day pattern. The CBS Consumption Radar for January shows that conditions for household consumption in the Netherlands in January were, on balance, more unfavourable than they were in December.

Higher spending on goods and services

Households spent 7.6 percent more on durable goods (adjusted for price changes) than they did in December 2023. They bought more cars and electrical appliances, in particular. Consumers also spent 2.6 percent more on other goods, such as energy, motor fuels and personal care products. However, spending on food, beverages and tobacco was down by 2.0 percent.

Consumers spent 0.8 percent more on services compared to the previous year, adjusted for price changes. They spent more on transportation and communication, medical services, accommodation and food services, and recreation and cultural services, in particular. Spending on services makes up over half of all domestic household consumption.

Consumer climate more unfavourable in January

Every month, CBS publishes figures about the conditions for household consumption in its Consumption Radar. Household consumption is influenced by factors such as consumer expectations, their personal financial situation and labour market conditions. Although the Radar indicators are closely correlated with household consumption, improved conditions do not necessarily translate into an increase in consumption.

According to the CBS Consumption Radar for January, conditions for Dutch household consumption in January were less favourable than they were in December. This was mainly because the increase in share prices and house prices was smaller than last year. Manufacturers were also more negative about future employment.