Household consumption falls 5% in Q1

The first quarter of the year brought about all-round declines in the fast moving consumer goods, the latest “victim” of the crisis: a smaller shopping basket and less frequent shopping trips led to a 5% decline in the volume of household consumption against the first quarter of 2009, reveals a GfK Consumer Tracking survey conducted this year.
In terms of value, household consumption fell by 2% in this interval, after last year it saw a 6% rise on account of inflation. Data of market research company GfK reveal that 2010 could be the first year of decline in household consumption since 2001, after in 2009 it failed to see a decline after consumption habits moved inside the household, from restaurants and bars.
“The last annual decline in household consumption was recorded in 2001 and amounted to 9% (in terms of value),” said Raluca Raschip, Consumer Tracking Director of GfK Romania, at an event organised by the company.