This is an archived release.
Continued decrease in household consumption
Seasonally adjusted figures show a decrease of 1 per cent in the household consumption of goods from September to October 2008. It is mainly car purchases that are pulling the index down, but also purchases of other durable consumer goods continue to show a marked decrease.
Purchases of cars and other personal vehicles as well as petrol decreased by 6 per cent according to the index of household consumption of goods adjusted for seasonal variations. If one disregards car purchases, the remaining household consumption of goods went down by 0.2 per cent.
There was also a decrease of 0.5 per cent in the consumption of goods in the group “other goods”, which includes inter alia subgroups for durable leisure goods, books, furniture, white goods, clothes and shoes. The subgroup for books and leisure articles like games, sports equipment etc, was the only subgroup with a minor increase in the consumption of “other goods”.
The level of consumption of food, beverages and tobacco has remained stable in the last six months.
Without adjustments for seasonal variations, households consumed goods for 3.2 per cent less in October 2008 than in October 2007.
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 of 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.
Change from previous
month. Per cent
Change from the same month
last year. Per cent
|1||Please note that the indices have been revised.|