Sweden's Household Consumption y/y reflects a change in the market value of all goods and services, including durable goods (home appliances, cars, etc.), purchased by Swedish households in the reported month compared to the same month a year ago. Year-over-year estimation of consumption changes enables the assessment of long-term consumption trends.
The indicator assesses detailed consumption and covers 147 consumption targets (according to COICOP classification). The calculation does not include purchases of dwellings, but it includes imputed rent for owner-occupied dwellings.
Data for the indicator calculation is collected from various sources. The main one of them is statistics on turnover, which covers about 30% of all household consumption. It also addresses the financial statements of companies and various statistical publications from Statistics Sweden.
Since the purpose of the indicator is to specifically determine the consumption of Swedish households, the statistics include direct purchases of Swedish citizens from abroad, as well as exclude purchases made in Sweden by non-residents. Data from export and import statistics are used to account for the above purchases.
Household consumption is an important part of expenditure-based GDP and is a power that pushes economic growth. Therefore, higher than expected indicator readings can be seen as positive for Swedish krona quotes.
The chart of the entire available history of the "Sweden Household Consumption y/y" macroeconomic indicator.
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