This is an archived release.
Increased household consumption of goods
Consumption of goods increased by 1.5 per cent from October to November 2004, according to the seasonally adjusted volume index of commodity consumption. The increased consumption can mainly be attributed to increased purchases of vehicles and to increased purchases of clothing and footwear.
Seasonally adjusted figures show that purchases of vehicles and petrol increased by 5.7 per cent from October to November. The consumption of electricity and heating fuels increased by 4.2 per cent, while other goods rose by 0.5 per cent in the same period. The consumption of food, beverages and tobacco was 0.4 per cent higher in November than in October.
The unadjusted volume index of commodity consumption increased by 6.5 per cent from November 2003 to November 2004.
The purchases of vehicles and petrol increased by 15 per cent from November last year to November this year. Consumption of electricity and heating fuels rose by 9.2 per cent in the same period, while other goods increased by 7.5 per cent. Food, beverages and tobacco were 0.3 per cent higher in November 2004 than in November 2003.
Method differs from the index of retail sale
The index of commodity consumption describes the development in household consumption of goods, while the index of retail sales measures the development in retail sales. As opposed to the index of retail sales, the index of commodity consumption includes goods that are not sold in retail trade. Thus, the calculation of the index of commodity consumption is based on information from the index of retail sales in addition to information on purchases of cars, sales of petrol and oil to petrol stations and consumption of electricity unadjusted for changes in temperature. This may result in deviations in the development of the two indices.
The index of commodity consumption uses the same definitions and methods of compilation as the quarterly national accounts, and thus serves as an indicator of household consumption of goods in the quarterly national accounts.
Timeliness is important in the release of statistics, and the index of commodity consumption may therefore have to rely on preliminary estimates in some cases. Such estimates are replaced in the subsequent release. This applies, inter alia, to figures on electricity consumption, where short-term statistics from the Norwegian Water Resources and Energy Directorate (NVE) are used. Later on these short-term statistics are replaced by electricity statistics from Statistics Norway. This implies that the index of commodity consumption normally will be revised in the subsequent publishing.
Index of commodity consumption, November 2004.
Seasonally adjusted and unadjusted volume index.
November 2003-November 2004. 1995=1001
|1||Please note that the seasonally adjusted indices have been revised.|