Consumption for the first time higher than before the corona crisis

Consumption for the first time higher than before the corona crisis

Dutch consumption for the first time exceeded the level before the corona crisis in July. According to Statistics Netherlands (CBS), consumers spent 2.1 percent more than in July 2019.

For example, more was spent on services such as telephone and internet subscriptions, insurance, a visit to the hairdresser, a restaurant or a football match. This is partly related to the relaxation of the corona rules.

Compared to July last year, 4.8 percent more was consumed. The increase was therefore smaller than in May and June, when consumption grew significantly faster on an annual basis. But according to the statistical office, that is because consumption was at a very low level in May and June of 2020 due to the first lockdown.

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More than three weeks ago, CBS already reported that retail turnover in July was 3.4 percent more than in the same month last year. The turnover of the non-food sector grew, while the turnover of the food sector shrank slightly. Online retailers turned over 11 percent more.

Corporate investment also picked up in July. According to the CBS, these grew by 4.2 percent on an annual basis. Investments in buildings in particular have increased. On the contrary, less money was allocated by the business community for infrastructure and cars. Compared to July 2019, investments were approximately 1 percent higher.

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Consumption for the first time higher than before the corona crisis | Economy
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