This is an archived release.
Increase in consumption of goods
The consumption of goods increased by 0.7 per cent from July to August, according to the seasonally adjusted volume index of commodity consumption.
Seasonally adjusted figures show that consumption of food, beverages and tobacco and other goods increased by 1.1 per cent from July 2004 to August 2004. Purchase of vehicles and petrol decreased by 0.6 per cent in the same period, while the consumption of electricity and heating fuels decreased by 1.2 per cent.
The unadjusted volume index of commodity consumption was 3.8 per cent higher in August 2004 than in August 2003.
The unadjusted consumption of food, beverages and tobacco decreased by 0.9 per cent from August last year to August 2004. In the same period the purchases of vehicles and petrol rose by 6.7 per cent. The consumption of other goods increased by 6.2 per cent from August 2003 to August 2004, while electricity and heating fuels grew by 3.6 per cent in the same period.
Method differs from the index of retail sale
The index of commodity consumption aims at describing the development in the households' consumption of goods, while the index of retail sales is an index measuring the development in retail sales. As opposed to the index of retail sales, the index of commodity consumption also includes goods not sold in retail trade, it is based on sales of additional industries and calculated with a weighting consistent with the portion of the sales actually allocated to the households. This can result in deviations in the development of the two indices. The calculation of the index of commodity consumption is based on information from the index of retail sales. In addition, the index of commodity consumption uses information about purchases of cars, sales of petrol and oil to petrol stations and consumption of electricity unadjusted for changes in temperature.
The index of commodity consumption uses the same definitions and nearly the same methods of compilation as the Quarterly National Accounts. The index of commodity consumption is thus an indicator of household consumption of goods in the Quarterly National Accounts. The components of the index of commodity consumption are individually seasonally adjusted. Since Statistics Norway emphasises timeliness, the index of commodity consumption in some cases has to rely on preliminary estimates, which are subsequently replaced in the next publishing. This applies among others to consumption of electricity, where the Norwegian water resources and energy directorate's short-term statistics have been utilised. This implies that the index of commodity consumption normally will be revised in the subsequent publishing each month.
Index of commodity consumption, August 2004. Seasonally adjusted
and unadjusted volume index. August 2003-August 2004. 1995=1001
Change from previous
month. Per cent
Change from same month
last year. Per cent
|1||Note that the seasonally adjusted indices have been revised.|