Consumer spending in the Netherlands decreased for the fourteenth consecutive month in May, though at a slightly slower rate compared to the previous month, data released by the Central Bureau of Statistics showed Friday.
Households' spending on goods and services decreased a working-day adjusted 1.9 percent on an annual basis in May, after falling 2.1 percent in the previous month. The latest contraction was the fourteenth in a row.
Total consumption of goods decreased 4.1 percent annually during the month, which was broadly unchanged from the previous month's decline. Spending on food and beverages was lower by 1.2 percent, while consumption of durable goods fell 6 percent, data showed.
Spending on services, meanwhile, remained unchanged year-on-year in May, after edging down 0.3 percent in April.
by RTT Staff Writer
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