This is an archived release.
Sharp decline in household consumption of goods
Household consumption of goods fell 2 per cent from April to May 2015, according to seasonally-adjusted figures. This followed a clear upturn in the three preceding months. All consumption groups, except electricity and heating fuels, declined.
|May 2015||April 2015||March 2015||February 2015||January 2015|
|Of all goods||-2.0||1.4||0.4||0.8||-0.3|
|Food, beverages and tobacco||-3.3||2.1||-0.2||-0.5||0.3|
|Electricity and heating fuels||8.3||-2.7||0.4||2.5||-2.6|
|Purchases of vehicles and petrol||-0.4||0.0||2.4||0.1||0.4|
The consumption of food and beverages fell 3.3 per cent, while other goods dropped 3.4 per cent. These contributed to pulling down total consumption by 1 and 1.4 percentage points respectively. Purchases of vehicles and petrol decreased 0.4 per cent from April to May.
On the other hand, the consumption of electricity and heating fuels saw an 8.3 per cent surge, which lifted up household consumption 0.5 percentage points.
Without adjusting for calendar effects and seasonality, household consumption of goods was 0.9 per cent lower in May 2015 than in the same month the year before.
Monthly figures for household consumption of goods are adjusted when new information is available. Normally it is only the consumption of electricity that have new information which alters the previous month. Even if year-on-year growth rates are not changed backwards in time, the seasonally-adjusted figures could be modified as a result of having received figures for a new month.
The index of household consumption of goods describes the development in household consumption of goods. For goods sold in the retailing industry, the index of retail sales is the main source. The index of household consumption of goods also includes purchases of cars (initial registration) and consumption of electricity and heating fuels.
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 final consumption expenditure in the Quarterly National Accounts.