source: tradingeconomics.com
Personal Spending in the United States increased 0.50 percent in October of 2020 over the previous month. Personal Spending in the United States averaged 0.53 percent from 1959 until 2020, reaching an all time high of 8.70 percent in May of 2020 and a record low of -12.70 percent in April of 2020. Personal consumption expenditures (PCE) is the primary measure of consumer spending on goods and services in the U.S. economy. 1 It accounts for about two-thirds of domestic final spending, and thus it is the primary engine that drives future economic growth. PCE shows how much of the income earned by households is being spent on current consumption as opposed to how much is being saved for future consumption. PCE also provides a comprehensive measure of types of goods and services that are purchased by households. Thus, for example, it shows the portion of spending that is accounted for by discretionary items, such as motor vehicles, or the adjustments that consumers make to changes in prices, such as a sharp run-up in gasoline prices. 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.
