Household consumption up by over 1 percent in July

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 August shows that conditions for household consumption in the Netherlands in August were, on balance, less favourable than they were in July.

Higher spending on goods

Households spent 3.2 percent more on durable goods (adjusted for price changes) than they did in July 2023. They spent mainly more on electrical appliances, home furnishing and clothing. Consumers also spent 6.0 percent more on other goods, such as motor fuels, energy and personal care products. However, spending on food, beverages and tobacco was down by 1.5 percent.

Consumers spent 0.4 percent more on services year on year, adjusted for price changes. They spent more on transportation and communication, in particular. On the other hand, consumers spent less on accommodation and food services, recreation and culture than in July 2023. Spending on services makes up over half of all domestic household consumption.

Consumer climate less favourable in August

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 August, conditions for Dutch household consumption in August were less favourable than they were in July. This was mainly because the year-on-year rise in share prices was smaller and manufacturers were less positive about future employment.