Household consumption in the Netherlands increased by 0.9 percent year-on-year in January 2019, easing from an upwardly revised 2.5 percent rise in the previous month. This was the weakest growth in consumption since June 2016, as spending growth slowed for both services (1.7 percent vs 2.8 percent in December) and food, beverages, tobacco (0.9 percent vs 3.2 percent). In addition, consumption of durable goods declined (-3.3 percent vs 3.0 percent), while spending on other goods rebounded (3.8 percent vs -0.5 percent). Personal Spending in Netherlands averaged 0.72 percent from 2002 until 2019, reaching an all time high of 4.30 percent in April of 2006 and a record low of -3.10 percent in May of 2009.
Personal Spending in Netherlands is expected to be 2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Personal Spending in Netherlands to stand at 0.90 in 12 months time. In the long-term, the Netherlands Household Consumption YoY is projected to trend around 1.00 percent in 2020, according to our econometric models.