Household Consumption Grows by Over 1 Percent in January

The consumption figures are volume figures, meaning they have been adjusted for price changes. Additionally, adjustments for changes in the composition of shopping days have been made. According to the CBS Consumption Radar of February, the conditions for consumption were more favorable in February than in January.

More Goods and Services

Consumers spent 3.2 percent more on food and beverages, adjusted for price changes, in January. They also purchased 1.5 percent more durable goods than a year earlier, primarily more clothing, shoes, and home items. However, households used 0.5 percent less other goods than in January 2024, such as energy and motor fuels.

In January, consumers took 0.9 percent more services. They especially spent more on transport and communication, hospitality, and recreation and culture. Expenditures on services account for more than half of total domestic consumption by households.

Consumption Conditions More Favorable in February

CBS also publishes monthly about the conditions for consumption in the consumption radar. Household consumption is partly related to consumer expectations, the labor market situation, and asset development. 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 consumption radar for February, the conditions for consumption were more favorable in February than in January. This is mainly because producers were more positive about their staffing levels.