Spending on durable goods rose 5.5 per cent year on year (YoY). Households spent more on passenger cars, electrical appliances and home furnishing, CBS said in a press release.
Consumers spent 1.4 per cent more on services in August than a year earlier, after adjustment for price changes. Higher spending was recorded on transport and communication, medical services, recreation and culture, housing, accommodation and food services. Services accounted for more than half of total domestic consumer expenditure.
Netherlands household spending on goods and services rose 2.1 per cent year on year in August, after 1.2 per cent growth in July, according to CBS.
Durable goods spending increased 5.5 per cent, including home furnishing, while services were up 1.4 per cent and food, beverages and tobacco rose 2.1 per cent.
Consumption conditions turned slightly more unfavourable in September.
The figures are volume data, meaning they are adjusted for price changes. They are also adjusted for differences in the shopping day pattern.
Conditions for household consumption in the Netherlands were slightly more unfavourable in September than in August.
Household consumption is influenced by factors including consumer expectations, personal financial situation and labour market conditions.
These indicators are closely correlated with household consumption, but improved conditions do not necessarily result in higher consumption, added the release.
The more unfavourable September conditions were mainly because manufacturers were less positive about future employment in their company. Consumers were also more negative about future unemployment.
Fibre2Fashion News Desk (SG)
