Household consumption slightly up in November

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© ANP / Hans van Rhoon
According to figures released by Statistics Netherlands (CBS), households spent 0.3 percent more in November 2023 year on year, adjusted for price changes. Consumption of services was higher than a year earlier, while consumption of goods remained virtually the same.

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 December were, on balance, more unfavourable than in November.

Year MonthChange (year-on-year % change)
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
2022January-11.7
2022February-11
2022March0.4
2022April12.8
2022May11.9
2022June8.1
2022July3.4
2022August4.1
2022September5.5
2022October9.4
2022November9.7
2022December5.3
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-0.4
2023May0.1
2023June0.8
2023July-0.7
2023August-0.1
2023September-1.7
2023October-0.2
2023November0.3

More services

In November, consumers spent 0.5 percent more on services compared to the same month last year (adjusted for price changes). These services include recreation, culture, public transport, communication or hairdressers. Spending on services makes up over half of total domestic household consumption expenditure.

Adjusted for price changes, households spent 2.3 percent less on food, beverages and tobacco. They also bought slightly fewer durable goods than in November 2022. Spending on home furnishing, shoes and clothes was down in particular. On the other hand, consumers bought more passenger cars. Furthermore, households spent 3.1 percent more on other goods, such as energy and personal care products, in November.

Almost two weeks ago, CBS reported that retail sales volume in November was down by 0.8 percent relative to one year previously. Sales volume decreased by 2.1 percent in the non-food sector and by 1.7 percent in the food sector. These figures have also been adjusted for the shopping-day pattern.

 Change (year-on-year % change)
Other goods (e.g. gas)3.1
Services0.5
Durable goods-0.1
Food, drinks and tobacco-2.3
Total0.3

Consumer climate more unfavourable in December

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, conditions for Dutch household consumption in December were more unfavourable than they were in November. This is mainly because manufacturers were more negative about their expected workforce. On the other hand, consumers were more positive about their financial situation in the next twelve months and the year-on-year decline of owner-occupied dwellings was smaller.

Sources

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