The consumption figures are volume figures. This means they have been adjusted for price changes. Additionally, adjustments have been made for changes in the composition of shopping days. According to the CBS Consumption Radar, conditions for consumption in November were more favorable than in October.
Consumers purchased 2.2 percent more durable goods in October than in October 2024. They mainly bought more shoes, electrical appliances, household items, and clothing. Households spent 0.3 percent less on food and luxury goods, adjusted for price changes, than in October 2024. Furthermore, households consumed 0.5 percent more other goods (such as personal care products and energy) in October.
Consumers used 0.6 percent more services in October. They spent, adjusted for price changes, especially more on transport and communication, and medical services than in October 2024. Spending on services accounts for more than half of the total domestic consumer spending by households.
The CBS publishes monthly reports on consumption conditions in the Consumption Radar. Household consumption is related to consumer expectations, the labor market situation, and the development of their wealth. The indicators in the radar correlate well with household consumption, but an improvement in conditions does not necessarily mean higher consumption growth.
According to the November Consumption Radar, conditions for consumption in November were more favorable than in October. This is mainly due to a larger year-on-year increase in stock prices and consumers being more positive about their financial position in the next 12 months.
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