Personal spending in the United States rose 0.4 percent from a month earlier in September of 2018, following an upwardly revised 0.5 percent rise in August and matching market expectations. Consumption eased slightly for services but rose faster for both durables and nondurables. Personal Spending in the United States averaged 0.54 percent from 1959 until 2018, reaching an all time high of 2.80 percent in October of 2001 and a record low of -2.10 percent in January of 1987.

United States Personal Spending
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US Personal Spending Matches Forecasts


Personal spending in the United States rose 0.4 percent from a month earlier in September of 2018, following an upwardly revised 0.5 percent rise in August. Figures matched market expectations, mainly boosted by spending in motor vehicles and health care.

Personal consumption expenditures (PCE) increased $53.0 billion (0.4 percent) in September: services rose 0.3 percent (0.5 percent in August), durables went up 1.4 percent (0.6 percent) and nondurables 0.3 percent (0.2 percent). 

The $33.2 billion increase in real PCE (0.3 percent) reflected an increase of $33.5 billion in spending for goods and a $3.5 billion increase in spending for services. Within goods, motor vehicles and parts was the leading contributor to the increase, with strong contribution from recreational goods and vehicles. Within services, the largest contributor to the increase was spending for health care that was more than offset by a decrease in spending for food services and accommodations. 

Personal income increased $35.7 billion (0.2 percent) in September, below an upwardly revised 0.4 percent gain in August and market expectations of 0.3 percent. It is the smallest gain in personal income since June of 2017. It primarily reflected increases in wages and salaries, government social benefits to persons, and rental income of persons that were partially offset by a decrease in proprietors’ income. 

Personal outlays increased $57.9 billion and personal saving was $975.7 billion in September, and the personal saving rate, personal saving as a percentage of disposable personal income, was 6.2 percent. Disposable personal income (DPI) increased $29.1 billion (0.2 percent). Real DPI increased 0.1 percent.

The PCE price index increased 0.1 percent, the same as in August and in line with forecasts. Excluding food and energy, the PCE price index increased 0.2 percent, following a flat reading in the previous month and above forecasts of 0.1 percent. Year-on-year, the PCE price index went up 2 percent (2.2 percent in August) and the core one increased 2 percent, the same as in August.


BEA | Joana Taborda | joana.taborda@tradingeconomics.com
10/29/2018 12:49:34 PM



Calendar GMT Actual Previous Consensus TEForecast
2018-08-30 12:30 PM Personal Spending MoM 0.4% 0.4% 0.4% 0.3%
2018-09-28 12:30 PM Personal Spending MoM 0.3% 0.4% 0.3% 0.4%
2018-10-29 12:30 PM Personal Spending MoM 0.4% 0.5% 0.4% 0.4%
2018-11-29 01:30 PM Personal Spending MoM 0.4% 0.3%
2018-12-21 01:30 PM Personal Spending MoM 0.1%


United States Consumer Last Previous Highest Lowest Unit
Consumer Confidence 98.30 98.60 111.40 51.70 Index Points [+]
Retail Sales MoM 0.10 0.10 6.70 -3.90 percent [+]
Retail Sales YoY 4.70 6.50 11.20 -11.50 percent [+]
Retail Sales Ex Autos -0.10 0.20 2.60 -4.00 percent [+]
Consumer Spending 12968.54 12842.02 12968.54 1403.69 USD Billion [+]
Disposable Personal Income 15650.96 15617.39 15650.96 351.90 USD Billion [+]
Personal Spending 0.40 0.50 2.80 -2.10 percent [+]
Personal Income 0.20 0.40 4.60 -4.70 percent [+]
Personal Savings 6.20 6.60 17.30 2.20 percent [+]
Consumer Credit 10.92 22.88 118.08 -113.42 USD Billion [+]
Private Sector Credit 9446.76 9412.35 9463.65 39.04 USD Billion [+]
Bank Lending Rate 5.25 5.03 20.50 2.00 percent [+]
Economic Optimism Index 56.40 57.80 62.90 35.80 [+]
Redbook Index 6.10 6.10 7.60 -5.80 percent [+]
Chain Store Sales 3979.00 3782.00 15875.00 3055.00 USD Million [+]
Gasoline Prices 0.74 0.75 0.99 0.32 USD/Liter [+]
Households Debt To GDP 77.30 78.00 98.60 23.80 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 November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.50 2.80 -2.10 1959 - 2018 percent Monthly
Current Prices, SA




Country Last
France -1.70 Sep/18
Netherlands 2.20 Aug/18
United States 0.40 Sep/18


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