Household consumption declined by 3.0% as spending on durable goods conƟnued to fall. Rising
unemployment and inflaƟon rates, lower farm income and on‐going poliƟcal situaƟon led to lower
consumer’s confidence. In addiƟon, the expiraƟon of the First Car Tax Rebate Scheme caused
spending on motor vehicles to grow only slightly. On the other hand, consumpƟon on semi– and
non‐durables increased.