This is an archived release.
Continued decrease in household consumption
Seasonally adjusted figures show that the household consumption decreased by 1.3 per cent from June to July. In particular there was a large decrease in purchase of vehicles. Additionally there was a moderate decrease in consumption of heating fuels.
According to the seasonally adjusted figures, the households’ purchase of vehicles and petrol decreased by 8.4 per cent from June to July.
Household consumption of electricity and heating fuels was 0.5 per cent lower in July than in June. Equally, the consumption of other goods such as sports equipment, books, clothing and footwear in total went down by 0.5 per cent.
Seasonally adjusted figures show, however, that the consumption of food, beverages and tobacco increased by 0.5 per cent from the previous month.
In July 2008, the index of household consumption of goods in total was 1.4 per cent higher than in July 2007, despite the considerable decrease of about 18 per cent in the purchase of vehicles from July last year to July this year. Consumption of food, beverages, clothing and footwear, however, increased compared with the same month last year.
Method differs from the index of retail sales
The index of household consumption of goods describes the development in household consumption, while the index of retail sales measures the development in retail sales. As opposed to the index of retail sales, the index household consumption of goods has a wider selection of goods. The calculation of the index of household consumption of goods is based on information from the index of retail sales plus purchases 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 household consumption of goods uses the same definitions and methods of compilation as the quarterly national accounts, and thus serves as an indicator of household consumption in the quarterly national accounts.
Since Statistics Norway gives high priority to timeliness in the release of statistics, the index of household consumption of goods may have to rely on preliminary estimates in some cases. This implies that such estimates will be replaced in subsequent releases.
the same month
|1||Please note that the indices have been revised.|