This is an archived release.
Weak trend in household consumption
Seasonally-adjusted figures show that household consumption was down by 0.2 per cent from September to October, after a stronger decrease the previous month. Reduced purchases of vehicles contributed to pulling the household consumption down by 0.5 percentage points.
The national accounts have recently carried out a revision of the time series . The Index of household consumption of goods, which uses the same methods and definitions as the consumption calculations in the quarterly national accounts, is affected by this revision. Time series for the Index of household consumption of goods are now available , but StatBank is not updated. Earlier time series for the Index of household consumption of goods are available in the quarterly in the quarterly national accounts . (1 December 2011)
While purchases of vehicles went down, consumption of fuel increased in October. Purchases of vehicles, fuel and spare parts combined went down by 1.7 per cent. Consumption of electricity and heating fuels also had a decrease and was down 2.3 per cent from the previous month.
Consumption of food, beverages and tobacco was approximately unchanged in October, while consumption of other goods increased by 0.4 per cent.
Without adjusting for seasonal variations, the household consumption of goods was 0.3 per cent higher in October 2011 than in October 2010.
Change from the
|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.