This is an archived release.
Increase in purchases of cars pulled the index upwards
Seasonally adjusted index of commodity consumption increased by 0.4 per cent from April to May after a decrease of 1 per cent from March to April. The index went up due to increase in purchases of cars.
From April to May, the sales of cars to households increased by 5.5 per cent. The purchases of cars were almost 23 per cent higher the first five months this year compared with the same period in 2006. One of the reasons for this increase is the changes in excise duties of the vehicles, which were introduced in the beginning of the year.
The consumption of groceries went down by 0.4 per cent from April to May.
In the same period, the consumption of other goods increased by 0.2. Purchase of clothing and shoes went up by 0.6, and was the main contributor to the growth.
The consumption of electricity and heating fuels went down by 2.2 per cent in May compared with the previous month. This consumption was 2.3 per cent lower than the level in May 2006.
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 has a wider choice of commodities. Calculation of the index of commodity consumption is based on information from the index of retail sales plus purchase of cars (initial registration), sales data from petrol stations (petrol and other goods) and consumption of electricity and heating fuels. 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.
Since Statistics Norway gives high priority in timeliness of release of statistics, the index of commodity consumption may have to rely on preliminary estimates in some cases. This implies that such estimates will be replaced in the subsequent releases.
Index of commodity consumption, May 2007. Sesonally
adjusted and unadjusted volume index. May 2006-May 2007.
the same month
|1||Please note that the indices have been revised.|