Modest consumption growth

Dutch households spent 1.4 percent more on goods and services in July than twelve months previously. Consumption growth was the same as in June, but down on the first half of 2008, when household spending increased by an average 2.3 percent relative to the same period one year previously.

Household spending on goods was 0.5 percent down, spending on food, drinks and tobacco dropped by 2.0 percent relative to the same month in 2007. Households spending on durable goods – on the other hand – rose by 0.9 percent in July, just like in June. Nevertheless, the increase is smaller than in the first six months of 2008, when households on average spent 1.8 percent more on durable consumer goods than in the first six months of 2007.

Households spent 3.1 percent more on services. This is in line with the growth figures over the first half of 2008.

Consumption figures have been adjusted for price changes and differences in the shopping-day pattern. July 2008 had a Wednesday and Thursday more and a Sunday and Monday less than July 2007.

Domestic household consumption (volume)