This is an archived release.
Significant increase in household consumption
The increase in household consumption of goods continued in November, and was 2.1 per cent, according to seasonally-adjusted figures. The growth was across the board, but particularly strong for electricity consumption.
Consumption of electricity and heating fuels went up 8 per cent from October to November, and contributed alone to pulling the index up by 0.5 percentage points.
Purchases of vehicles and petrol were 3 per cent higher in November than in the previous month. Consumption of food, beverages, and tobacco increased by 1.1 per cent, while other goods had an increase of 1.7 per cent.
Without adjustments for seasonal variations, the household consumption of goods was 9.3 per cent higher in November compared with the same month in the previous year.
|Unadjusted||Change from the same
month last year.
|1||Please note that the indices have been revised.|
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. Compared 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) and consumption of electricity and heating fuels. This may result in deviations in the development of the two indices. Additionally, it should be borne in mind that the “Standard Industrial Classification” changed on 1 January 2009, which inter alia means that petrol stations from then onwards are part of retail sales.
Connection to quarterly national accounts
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 a high priority to timeliness in the release of statistics, the index of household consumption of goods sometimes has to rely on preliminary estimates, which are replaced in subsequent releases.
As regards the seasonally-adjusted figures, the figures for previous periods may be revised when a new month is added to the series. For further information, see About seasonal adjustments in the left column.