US Consumer Spending Rises More than Expected

US personal spending rose by 0.7% month-on-month in May 2026, or $156.1 billion, accelerating from a downwardly revised 0.4% increase in April and beating market expectations of a 0.6% gain. Spending on goods rose by $61.8 billion, primarily driven by a $21 billion surge in gasoline and other energy goods amid soaring energy prices tied to the Middle East conflict. Additional gains were seen in recreational goods and vehicles ($7 billion), motor vehicles and parts ($5.3 billion), food and beverages ($4.6 billion), and other nondurable goods ($13.7 billion). Spending on services climbed by $94.3 billion, led by financial services and insurance ($28.4 billion), housing and utilities ($22.3 billion), and health care ($22.3 billion). Meanwhile, inflation-adjusted consumer spending increased 0.3% in May, after a flat reading in April.

US personal spending increased by 0.5% month-on-month in April 2026, or $111.1 billion, slowing from an upwardly revised 1% gain in March and matching market expectations. Spending on goods rose by $44.0 billion, primarily driven by a $28.8 billion surge in gasoline and other energy goods amid soaring energy prices tied to the Middle East conflict. Additional gains were seen in food and beverages ($9.5 billion), other nondurable goods ($8.2 billion), and recreational goods and vehicles ($8.1 billion), while motor vehicle spending fell by $9.2 billion. Spending on services climbed by $67.2 billion, led by housing and utilities ($22.7 billion), recreation services ($12.1 billion), food services and accommodations ($11.3 billion), and final expenditures of nonprofit institutions ($9.9 billion). Meanwhile, inflation-adjusted consumer spending edged up 0.1% in April, slowing from an upwardly revised 0.3% increase in March.

US personal spending rose by 0.9% month-on-month in March 2026, reaching $195.4 billion, accelerating from an upwardly revised 0.6% increase in February and matching market expectations. The increase was primarily driven by stronger goods spending ($132.6 billion), particularly in gasoline and other energy goods (+$81.3 billion), motor vehicles and parts (+$17.6 billion), other non-durable goods (+$9.9 billion), food and beverages (+$6.9 billion), and recreational goods and vehicles (+$6.3 billion). Spending on services also increased to $62.9 billion, led by health care (+$21.3 billion), financial services and insurance (+$14.6 billion), transportation services (+$6.7 billion), and other services (+$6.6 billion). Meanwhile, inflation-adjusted consumer spending edged down to 0.2%, from an upwardly revised 0.3% in February.