Originally posted on 23 Dec 2013
Last week, ONS published statistics on Consumer Trends – Q3 2013. It contains details of Household Final Consumption Expenditure (HHFCE) for the UK. The main tables include all expenditure on goods and services by members of UK households.
· In Q3 2013, household spending (adjusted for inflation) grew by 0.8% (£1.9 billion). All areas showed positive growth with the exception of ‘Housing’ and ‘Health’.
· Household spending when compared with the same quarter a year ago has risen in every quarter since Q1 2012 and was 2.5% higher in Q3 2013. This is the highest comparable growth since Q1 2008.
· Household spending still remains 1.5% below the peak of spending (in volume terms) in Q4 2007.
· The current price value of household spending, which includes inflation, shows how much UK households spent. In Q3 2013 current price spending increased by 1.7% compared with Q2 2013, continuing the trend of positive growth which has continued since Q3 2009. Current price spending is now 18.2% higher than Q4 2007.
· In current price terms, the value of UK household spending per head was £4,117, an increase of 1.5% on the quarter.