This is an archived release.
Slight increase in household consumption
Household consumption was up 0.1 per cent from January to February, according to seasonally-adjusted data. It was particularly electricity and purchases of fuel that contributed to curb the growth.
Consumption of food and beverages in February showed a growth of 0.6 per cent after an increase in the previous month as well. Household purchases of other goods including clothes and shoes, leisure equipment and appliances went up by 0.7 per cent from January to February.
Electricity and fuels fell by 4.3 per cent, after rising by 9.2 per cent the month before. The fall contributed to curb the growth in household consumption by 0.3 percentage points. Purchase of vehicles was virtually unchanged from January, while the purchase of fuel fell and helped to pull down the total retail sales by 0.1 percentage point.
Without adjusting for seasonal variations, the total household consumption was 4.9 per cent higher in February 2012 than in February 2011.
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.
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. Also, the reference year has been changed to 2005.
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 margin.