FX.co ★ Dutch Household Spending Growth Slows

In December 2025, household consumption in the Netherlands grew by 0.8% compared to the previous year, a slight decrease from the revised 0.9% increase in November, marking the slowest growth rate in three months. The increase in spending on household goods eased to 0.4% from 1.4%, influenced by reduced purchases in food, beverages, and tobacco (2.1% compared to 2.6%) and in durable goods (0.4% vs. 1.9%). Meanwhile, the decline in consumption of other goods persisted, worsening to -1.8% from -1.2%. On the other hand, expenditure on services rose to 1.2% from 0.6%, propelled by increased spending on transport, communication, healthcare, hospitality, recreation, and culture. It is important to note that services constitute over half of total household consumption. Simultaneously, the Consumption Conditions indicator for January worsened from December due to slower employment growth and a decline in consumer confidence regarding their financial prospects for the coming year, suggesting a potential slowdown in household demand momentum.