Index of household consumption of goods, May 2009

Method differs from the index of retail sales

The index of household consumption of goods describes the development in household consumption, while the index of retail sales measures the development in retail sales. Compared to the index of retail sales, the index of household consumption of goods has a wider selection of goods. The calculation of the index of household consumption of goods is based on information from the index of retail sales, plus purchases of cars (initial registration) and consumption of electricity and heating fuels. This may result in deviations in the development of the two indices. Additionally, it should be borne in mind that the “Standard Industrial Classification” changed on 1 January 2009, which inter alia means that petrol stations from then onwards are a part of retail sales.

The index of household consumption of goods uses the same definitions and methods of compilation as the quarterly national accounts, and thus serves as an indicator of household consumption in the quarterly national accounts.

Since Statistics Norway gives a high priority to timeliness in the release of statistics, the index of household consumption of goods may have to rely on preliminary estimates in some cases. This means that such estimates will be replaced in subsequent releases. As regards the seasonally-adjusted figures, the figures for previous periods may be revised when a new observation is added to the series of raw data.