This is an archived release.
Strong decrease in household consumption
After a marked increase in household consumption of goods in November, there was a strong decrease in December. The index ended in a -2.7 per cent decrease, according to seasonally-adjusted figures. Car purchases pulled the index significantly down.
The households’ purchases of vehicles and petrol showed a decrease of almost 12 per cent from November. This is in strong contrast to the car purchases for the entire year, where the increase was higher than 11 per cent compared with 2009. When excluding the car purchases from the calculations, the index of household consumption of goods would have shown a decrease of 1.1 per cent.
Consumption of food, beverages, and tobacco also decreased in December. The decrease was 1.2 per cent. Consumption of other goods, such as clothes and footwear, had a decrease of 1.8 per cent.
Consumption of electricity and heating fuels on the other hand continued to pull the index up. The increase was 5 per cent compared with the previous month.
Without adjustments for seasonal variations, the household consumption of goods was 2 per cent higher in December compared with the same month in the previous year.
|Period||Sesonally adjusted||Change from previous month. Per cent||Unadjusted||Change from the same month last year. Per cent|
|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.