Household spending 6.5 percent down in October

Consumption figures have been adjusted for price changes and differences in the shopping-day pattern.

Lower spending on services

In October, consumers spent 11.8 percent less on services than in the same month last year. This mainly applied to e.g. restaurants, theatres, amusement parks, fitness centres and soccer matches as well as public transportation. Restaurants and cafés had to close their doors again from 15 October. 

Consumer spending on durable goods increased by 1.1 percent. They mainly spent more on electrical appliances and home furnishings compared to October 2019. Consumer spending on food, beverages and tobacco was 2.8 percent up year-on-year. Spending on other goods, such as natural gas and motor fuels, was 2.4 percent down. Consumers mainly refueled less.

Three weeks ago, CBS reported a year-on-year turnover growth in retail trade of 7.1 percent in October 2020. The volume of sales increased by 4.7 percent. Turnover was up in both the food sector and the non-food sector. These figures were adjusted for the shopping-day pattern as well.