Personal spending in the US rose 1.1% month-over-month in March of 2022, above market expectations for a 0.7% increase and accelerating from an upwardly revised 0.6% gain in February amid higher prices for gasoline and food and stronger demand for services like travel and dining. It reflects an increase of $114.6 billion in spending for services and an increase of $70.4 billion in spending for goods. Within services, increases were widespread across all subcomponents and led by other services (which include international travel) as well as food services and accommodations. Within goods, an increase in nondurable goods (led by gasoline and other energy goods) was partly offset by a decrease in spending on durable goods (led by motor vehicles and parts). The PCE price index jumped by 6.6%, the most since January 1982, while excluding food and energy, prices rose 5.2%, below market expectations. source: U.S. Bureau of Economic Analysis
Personal Spending in the United States averaged 0.53 percent from 1959 until 2022, 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 May of 2022.
Personal Spending in the United States is expected to be 0.50 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 2023, according to our econometric models.