United States Personal Spending  1959-2018 | Data | Chart | Calendar

Personal consumption expenditures in the US increased 0.4 percent month-over-month in December of 2017, following an upwardly revised 0.8 percent increase in November but below market expectations of a 0.5 percent gain. Considering full 2017, PCE increased 4.5 percent, compared with an increase of 4.0 percent in 2016. Personal Spending in the United States averaged 0.54 percent from 1959 until 2017, reaching an all time high of 2.80 percent in October of 2001 and a record low of -2 percent in January of 1987.

United States Personal Spending
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US Personal Spending Rises 0.4% in December


Personal consumption expenditures in the US increased 0.4 percent month-over-month in December of 2017, following an upwardly revised 0.8 percent rise in November and mainly boosted by spending on motor vehicles and utilities. Still, figures came below market expectations of a 0.5 percent gain. The saving rate dropped to 2.4 percent from 2.5 percent, hitting the lowest level since September 2005.

Personal consumption expenditures (PCE) increased $54.2 billion or 0.4 percent. Spending on nondurables edged down 0.2 percent, following a 1.5 percent jump in November; spending on durables rose at a slower 0.7 percent (0.9 percent in November) and consumption of services increased 0.5 percent, the same as in the previous month. 

Real PCE went up $34.4 billion or 0.3 percent, reflecting an increase of $11.1 billion in spending for goods and a $23.2 billion increase in spending for services. Within goods, new motor vehicles was the leading contributor. Within services, the largest contributor was spending for electricity and gas. 

Personal income rose $58.7 billion or 0.4 percent, following a 0.3 percent gain in November and better than forecasts of 0.3 percent. It primarily reflected increases in wages and salaries and personal interest income.

Disposable personal income (DPI) increased $48.0 billion or 0.3 percent and real DPI edged up 0.2 percent.

The personal consumption expenditures (PCE) price index increased 0.1 percent after a 0.2 percent rise in November. Excluding food and energy, PCE prices edged up 0.2 percent after gaining 0.1 percent in November. On the year, the PCE price index went up 1.7 percent and the core one increased 1.5 percent. The so-called core PCE price index is the Fed's preferred inflation gauge, targeted at 2 percent.

Considering full 2017, PCE increased 4.5 percent, compared with an increase of 4.0 percent in 2016; personal income went up 3.1 percent, after a 2.4 percent rise in 2016; and DPI increased 2.9 percent compared with 2.6 percent. Real DPI increased 1.2 percent in 2017 (1.4 percent in 2016) and real PCE increased 2.7 percent, the same as in 2016. The saving rate went down to 3.4 percent from 4.9 percent in 2016, the lowest since 2007.



BEA | Joana Taborda | joana.taborda@tradingeconomics.com
1/29/2018 1:58:56 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-11-30 01:30 PM Personal Spending MoM 0.3% 0.9% 0.3% 0.3%
2017-12-22 01:30 PM Personal Spending MoM 0.6% 0.2% 0.5% 0.3%
2018-01-29 01:30 PM Personal Spending MoM 0.4% 0.8% 0.5% 0.4%
2018-03-01 01:30 PM Personal Spending MoM 0.4% 0.2% 0.3%
2018-03-29 12:30 PM Personal Spending MoM 0.49%
2018-04-30 12:30 PM Personal Spending MoM 0.49%


United States Consumer Last Previous Highest Lowest Unit
Consumer Confidence 99.90 95.70 111.40 51.70 Index Points [+]
Retail Sales MoM -0.30 0.00 6.70 -3.70 percent [+]
Retail Sales YoY 3.60 5.20 11.20 -11.50 percent [+]
Retail Sales Ex Autos 0.00 0.10 2.70 -3.80 percent [+]
Consumer Spending 12028.06 11916.58 12028.06 1320.40 USD Billion [+]
Disposable Personal Income 14589.00 14566.50 14589.00 351.90 USD Billion [+]
Personal Spending 0.40 0.80 2.80 -2.00 percent [+]
Personal Income 0.40 0.30 4.60 -5.20 percent [+]
Personal Savings 2.40 2.90 17.00 1.90 percent [+]
Consumer Credit 18.50 31.00 118.60 -114.30 USD Billion [+]
Private Sector Credit 9119.50 9098.96 9463.65 39.04 USD Billion [+]
Bank Lending Rate 4.50 4.40 20.50 2.00 percent [+]
Economic Optimism Index 56.70 55.10 62.90 35.80 [+]
Redbook Index 3.70 2.80 7.60 -5.80 percent [+]
Chain Store Sales 8800.00 6028.00 15875.00 3129.00 USD Million [+]
Gasoline Prices 0.68 0.65 0.99 0.32 USD/Liter [+]
Households Debt To Gdp 78.20 78.70 95.50 23.40 percent of GDP [+]
Consumer Confidence Current Conditions 113.20 112.50 121.10 57.50 [+]
Consumer Confidence Economic Expectations 80.20 83.90 108.60 44.20 [+]
Consumer Confidence Price Trends 2.70 2.60 10.40 0.40 [+]


United States Personal Spending

Consumer spending accounts for about 70 percent of economic activity in the United States and is a key driver of growth. 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 - actual data, historical chart and calendar of releases - was last updated on February of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.80 2.80 -2.00 1959 - 2017 percent Monthly
Current Prices, SA




personal spending by Country
Country Last
France -1.20 Dec/17
Netherlands 1.20 Dec/17
United States 0.40 Dec/17


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