FX.co ★ Dutch Household Consumption Stalls in January

Household consumption in the Netherlands was flat year-on-year in January 2026, after a 0.8% increase in December. Growth in spending on household goods eased to a fifteen-month low of 0.1% (down from 0.4% in December), largely due to a decline in purchases of durable goods (-1.4% vs 0.4%). Households mainly cut back on cars, home furnishings, and clothing.

By contrast, 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 products (2.1% vs -1.8%). Meanwhile, household spending on services was unchanged compared with a year earlier (0% vs 1.2%), with higher outlays on transport and communication offset by lower spending on recreation and culture. Services account for more than half of total household consumption.

Nonetheless, the Consumption Conditions indicator for February was less negative than in January, supported by more optimistic employment expectations among industrial firms and stronger year-on-year gains in equity prices.