Real US Personal Spending Rebounds in May

Inflation-adjusted US personal spending rose 0.3% month-over-month in May 2026, after a revised flat reading in April. Spending on goods increased 0.5%, rebounding from a 0.4% fall in April, due to motor vehicles and parts (0.9% vs -3.8% in April), recreational goods and vehicles (0.8% vs -0.3%), food and beverages (0.2% vs -0.1%), and clothing and footwear (0.4% vs -0.4%). Meanwhile, spending on services rose 0.2%, the same as in the previous month. Spending rose for housing and utilities (0.3% vs -0.1%), health care (0.2% vs 0.1%), recreation services (0.3% vs 0.4%), and financial services and insurance (0.3% vs 0.2%), while it declined for transportation services (-0.3% vs -0.7%), and food services and accommodations (-0.3% vs 0.3%).

Inflation-adjusted US personal spending edged up 0.1% month-over-month in April 2026, slowing from an upwardly revised 0.3% increase in March, as consumers showed signs of more cautious demand. Spending on goods declined 0.1%, following a 0.8% rise in March, with motor vehicles and parts falling 1.1% (vs. +3.5% in March) and clothing and footwear dropping 0.9% (vs. -0.2%). Recreational goods and vehicles also saw a fifth consecutive monthly decline (-0.5% vs. -0.6%). Meanwhile, spending on services accelerated to 0.2% from 0.1%, driven by recreation services (1.1% vs. 0.2%), financial services and insurance (0.2% vs. 0.1%), food services and accommodations (0.2% vs. 0.0%), and healthcare (0.1% vs. 0.0%).

Inflation-adjusted US personal spending edged down to 0.2% month-over-month in March 2026, from an upwardly revised 0.3% in the previous month, as consumers showed signs of more cautious demand. Goods spending held at 0.6%, but the underlying picture weakened. Spending eased sharply for motor vehicles and parts (2.4% vs 6.8% in February), while it declined for gasoline and other energy goods (-1.4% vs 0.2%) and clothing and footwear (-0.5% vs 1.1%). Services spending remained subdued at 0.1%, weighed down by housing and utilities (-0.3% vs 0%), healthcare (0.2% vs 0.3%), and transportation services (-0.5% vs 1.6%). Meanwhile, spending rebounded for recreation services (0.4% vs -0.5%) and slightly rose for financial services and insurance (0.4% vs 0.2%).