Consumption continues to rise

Grocery storeGrocery store.Photo: Norway Today Media

Norwegian consumption increased by 1.1 percent from January to February adjusted to, seasonal changes, according to Statistics Norway (SSB).

There were increases in most consumer areas, except the purchase and operation of vehicles, according to the figures from SSB.

Consumption of food and beverages rose by 1.8 percent from January to February, while the cost of electricity and fuel lead to an increase of 2.5 percent in the same period.

The consumption of other goods, including clothing and IT equipment, rose by1.8 percent. Buying and operation of cars fell, however by 1.9 percent from January to February and therefore had an influence on average household spending.

In February commodity consumption can be broken down to 34 per cent on food and beverages, 12 percent on electricity and fuel, 18 percent on car related purchases, leaving 36 per cent for other merchandise.

Without adjustment for seasonal variations, the household consumption is 2.3 per cent lower in February 2017 than it was the same month last year. According to DNB Markets’ the growth was slightly stronger than expected

DNB say they expect that consumption will pick up this year with a growth of 1.9 percent.

 

Source: NTB scanpix / Norway Today

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