This is an archived release.
Decreased household consumption
Consumption of goods decreased by 5.9 per cent from December 2004 to January 2005, according to the seasonally adjusted volume index of commodity consumption. The decreased consumption can mainly be attributed to a decline in purchases of vehicles.
Seasonally adjusted figures show a 29.0 per cent decline in purchases of vehicles and petrol from December to January. In the same period the consumption of electricity and heating fuels decreased by 4.7 per cent. The consumption of other goods decreased by 0.3 per cent, while the consumption of food, beverages and tobacco was 0.4 per cent higher in January than in December.
The unadjusted volume index of commodity consumption decreased by 2.7 per cent from January 2004 to January 2005.
Purchases of vehicles and petrol decreased by 7.3 per cent from January last year to January this year. The consumption of electricity and heating fuels decreased by 7.3 per cent in the same period, while food, beverages and tobacco were 5.8 per cent lower in January 2005 than in January 2004. The consumption of other goods rose by 1.4 per cent.
The index of commodity consumption has incorporated the decreased sales tax on food and the increased sales tax on other goods as of 1 January 2005.
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 the 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, January 2005.
Seasonally adjusted and unadjusted volume index.
January 2004-January 2005. 1995=1001
|1||Please note that the seasonally adjusted indices have been revised.|