Tuesday, October 21, 2014 - 13:07
Dutch spending on the rise
According to Statistics Netherlands, consumers spent 1.5 percent more on goods and services in August than in the same month last year. This is the largest increase in almost four years. In May, June and July consumer spending was also slightly higher than in the same months in 2013. The stabilization and growth in consumption follows nearly three years of almost uninterrupted decline. In August consumers spent 6.6 percent more on durable goods,such as clothing, home furnishings and household appliances, than the same month last year. Consumers spent 0.9 percent more on food, beverages and tobacco. Spending on other goods, including gas, were 1.9 percent lower than in August 2013. Consumers spent 0.9 percent more on services. More than half of domestic consumption expenditure is spent on services. These services include the payment of rent, travel on public transport, visiting a hairdresser or restaurant, and costs for phone and insurance.