Consumer spending in the Netherlands decreased at a faster pace in July, owing mainly to an increase in car prices after the government introduced new tax measures, data released by the Central Bureau of Statistics showed Friday.
Households' spending on goods and services decreased a working-day adjusted 1.5 percent on an annual basis in July, after recording a slower decline in June.
Total consumption of durable goods decreased 6.5 percent annually during the month, with consumers spending less on clothing and footwear, home furnishings and electronics. Spending on cars also decreased markedly.
Meanwhile, spending on food and beverages went up by 2.9 percent compared to last year in July, marking the largest growth in four years.
Spending on services, meanwhile, remained broadly unchanged year-on-year during the month, the agency said.
by RTT Staff Writer
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