Dutch Personal Spending Falls the Most in Near 2 Years

Household consumption in the Netherlands fell 0.5% yoy in February 2026, deepening from a revised 0.3% decline in the prior month and marking a second straight contraction. The latest reading was also the steepest drop since June 2024, amid persistent cost pressures and a less supportive consumption backdrop. Spending on goods declined further (-1.4% vs -0.3% in January), weighed by weaker demand for durable goods (-1.1% vs -2.0%), such as passenger cars and clothing, as well as a sharp fall in other goods (-3.9% vs 1.9%), including energy and motor fuels. In contrast, spending on food, beverages, and tobacco rose further (0.3% vs 0.1%). Meanwhile, services expenditure, accounting for over half of total household consumption, edged up 0.1%, rebounding from a 0.2% drop in January. Looking ahead, conditions for personal consumption in March were assessed to be more cautious than in February.

Household consumption in the Netherlands stalled year-on-year in January 2026, following a 0.8% rise in the previous month. Spending growth for household goods softened to a fifteen-month low (0.1% vs 0.4% in December), mainly due to weaker purchases of durable goods (-1.4% vs 0.4%), as households primarily bought fewer cars, home furnishings, and clothing. Consumers spent more on food, beverages and tobacco (0.4% vs 2.1%), as well as on other goods such as energy and personal care items (2.1% vs -1.8%). Meanwhile, households purchased the same amount of services compared to last year (0% vs 1.2%), as they spent more on transport and communication but less on recreation and culture. Services account for more than half of total household consumption. Still, the February Consumption Conditions indicator was less unfavorable than in January, reflecting more optimistic employment expectations among industrial firms and stronger year-on-year gains in stock prices.

Household consumption in the Netherlands rose 0.8% year-on-year in December 2025, easing slightly from an upwardly revised 0.9% increase in November and marking the slowest growth in three months. Spending growth softened for household goods (0.4% vs 1.4%), reflecting weaker purchases of food, beverages, and tobacco (2.1% vs 2.6%) as well as durable goods (0.4% vs 1.9%), while consumption of other goods remained in decline (-1.8% vs -1.2%). In contrast, services spending strengthened to 1.2% from 0.6%, driven by higher outlays on transport and communication, healthcare, hospitality, recreation, and culture. Services account for more than half of total household consumption. Meanwhile, the January Consumption Conditions indicator deteriorated from December, as employment growth slowed and consumers became less optimistic about their financial outlook for the year ahead, pointing to softer momentum in household demand.