Personal spending in the US rose 0.8% mom in August of 2021, rebounding from a 0.1% drop in July and beating market forecasts of a 0.6% gain, a sign the economic recovery is gaining traction after a summer slowdown due to the spread of the coronavirus delta variant. A rise in spending for food and beverages as well as “other” nondurable goods (mainly, household supplies as well as recreational items) was more than enough to offset a decrease in spending for motor vehicles and parts. Within services, the increases were widespread, led by “other” services (mainly, personal care and clothing services), housing and utilities, and health care. source: U.S. Bureau of Economic Analysis
Personal Spending in the United States averaged 0.53 percent from 1959 until 2021, reaching an all time high of 8.60 percent in May of 2020 and a record low of -12.60 percent in April of 2020. This page provides the latest reported value for - United States Personal Spending - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Personal Spending - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.
Personal Spending in the United States is expected to be 0.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Personal Spending is projected to trend around 1.00 percent in 2022, according to our econometric models.