Household consumption over 5 percent up in June

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According to figures released by Statistics Netherlands (CBS), consumers spent 5.2 percent more in June 2022 compared to June one year previously. They spent more on services, but less on goods. Household consumption growth was less substantial in June than in the preceding months of 2022.

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

Consumers spent more on services

In June 2022, consumers spent over 14 percent more on services such as telephone and internet subscriptions, insurances, and visits to hairdressers, restaurants and football matches compared to June 2021 (adjusted for price changes). Spending on services accounts for over half of total domestic consumer expenditure.

Consumers spent nearly 8 percent less on durable goods in June year on year. Spending on passenger cars and home furnishing was down in particular.

Adjusted for price changes, there was a year-on-year decrease of 4.5 percent in the consumption of food, beverages and tobacco. Spending on other goods such as natural gas, motor fuels and personal care products was almost 2 percent down on one year previously. Consumers spent less on motor fuels and consumed less energy.

Around three weeks ago, CBS reported that the volume of sales in retail trade in June 2022 was lower by over 6 percent relative to June 2021. The volume of sales in the non-food sector decreased by 8 percent and in the food sector by almost 5 percent. These figures have also been adjusted for the shopping-day pattern.

Sources

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