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Consumer spending drop reaches three-year low

Thursday 24 January 2013

Dutch household spending shrank by 3% in November, compared with the year earlier period, the national statistics office CBS said on Thursday.

This represents the biggest drop in consumer spending in over three years, the CBS said.

Spending on consumer durables, such as cars, furniture, clothes and shoes, was down nearly 12%, up from almost 11% in November.

Spending on food, alcohol and tobacco was down 2%. Rising fuel bills led to a 3.6% increase in spending on energy and petrol.

Earlier this month, the CBS said household budgets had shrunk by 2.4% in the third quarter of last year, the fifth consecutive quarterly drop.

© DutchNews.nl



 

Readers' Comments

This is not surprising at all. The government increased insurance tax from 9.7% to 21% on 1 January 2013, what do you expect?
I pay insurance on my car, diamond rings, travel & loans - not to mention Medical insurance (unchanged).. Of course household spending will decrease. Its an absolute joke!

By Brenno | 24 January 2013 1:13 PM

Econ 101 teaches us that when taxes are raised, people spend less, thereby actually reducing the total tax revenue that the government collects. This leads the government to have another shortfall in funds, and then they can choose to increase taxes to make up for it. It creates a vicious downward spiral. Sometimes I think the Dutch Gov't really has no clue and the people we elect would be best served working at Albert Heijn instead of Den Haag.

By Rick Kane | 24 January 2013 2:24 PM

Consumer spending did not drop at all, it plummeted!

'Collecting rainwater on my balcony from the roof now to a large container: 'will soon be disconnecting the toilet tank from the mains & connecting directly to WC tank. Next is the 12v aquarium pump, is there a law against that?

@Rick Kane: Albert Heijn? you mean the AH branch on the Pitcairn Islands? Seeing as most of the surnames are 'Christian' there, bloody good idea!

@CBS: new figures for % of homeless please, cheers! :P

By The visitor | 25 January 2013 7:13 PM

 
 
 
 
 
 
 
 
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