Household consumption up by 0.4 percent in October

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

Higher spending on goods and services

Households spent 2.2 percent more on durable goods (adjusted for price changes) than they did in October 2023. They bought mainly more electrical appliances and home furnishing. Consumers also spent 1.5 percent more on other goods, such as energy and water. However, spending on food, beverages and tobacco was down by 2.5 percent.

Consumers spent 0.4 percent more on services compared to the previous year, adjusted for price changes. They spent more on transportation and communication, and recreation and cultural services, in particular. Spending on services makes up over half of all domestic household consumption.

Consumer climate less favourable in November

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 November, conditions for Dutch household consumption in November were less favourable than they were in October. This was mainly because the increase in share prices and house prices was smaller compared to last year and the year-on-year growth in the employed labour force turned into a contraction.