Household consumption in the Netherlands rose by 0.7% in August 2024, compared to the same period last year, new data from Statistics Netherlands (CBS) has found.
The data showed that Dutch households bought more goods and more services in August, compared to a year ago. The consumption figures are volume-based, and have been corrected for price changes.
In terms of what consumers are spending their money on, Dutch shoppers bought 2.7% more durable goods in August 2024 compared to the same month a year earlier, with sales of clothing, shoes, home furnishings and electrical appliances increasing.
Sales of other products such as energy and personal care items rose by 2.0%, however consumers spent less on food and luxury goods, year-on-year.
Services saw a 0.5% increase in sales, with Dutch consumers spending more on transport and communication. However, adjusted for price changes, consumers spent less on hospitality, recreational and cultural services than a year earlier.
More favourable for consumption
Elsewhere, according to the CBS Consumption Radar for the month of September, the circumstances for consumption were more favourable in September than in August. This improvement was mainly due to a larger year-on-year increase in share prices.
Additionally, industrial entrepreneurs expressed more optimism about their future work situation, while consumers were more positive about their financial situation over the next 12 months.
While the indicators in the radar are closely related to consumption, an improvement in these factors does not always translate into higher consumption growth, Statistics Netherlands said.
Inflation down in September
Separately, Statistics Netherlands reported that consumer goods and services were 3.5% more expensive in September compared to a year earlier. Inflation in August came in at 3.6%, it noted.
The fall in inflation, month-on-month, was chiefly driven by lower prices for motor fuels, which were 11.3% lower, year-on-year.
Read more about the household consumption figures here, and inflation data here.
