United States Personal Spending

Personal spending in the United States rose 0.4 percent from a month earlier in May 2019, following an upwardly revised 0.6 percent growth in April. Consumption of durables and services drove the increase. Personal Spending in the United States averaged 0.53 percent from 1959 until 2019, 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.

Personal Spending in the United States is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Personal Spending in the United States to stand at 0.50 in 12 months time. In the long-term, the United States Personal Spending is projected to trend around 0.50 percent in 2020, according to our econometric models.

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Calendar	GMT		Actual	Previous	Consensus	TEForecast
2019-04-29	12:30 PM	Personal Spending MoM Feb	0.1%	0.3%	0.2%	0.3%
2019-04-29	12:30 PM	Personal Spending MoM Mar	0.9%	0.1%	0.7%	0.5%
2019-05-31	12:30 PM	Personal Spending MoM Apr	0.3%	1.1%	0.2%	0.1%
2019-06-28	12:30 PM	Personal Spending MoM May	0.4%	0.6%	0.4%	0.2%
2019-07-30	12:30 PM	Personal Spending MoM Jun		0.4%	0.3%	0.3%
2019-08-30	12:30 PM	Personal Spending MoM Jul
2019-09-27	12:30 PM	Personal Spending MoM Aug

US Personal Spending Rises 0.4% in May

Personal spending in the United States rose 0.4 percent from a month earlier in May 2019, following an upwardly revised 0.6 percent growth in April and matching market expectations. Consumption of durables and services drove the increase.

Personal consumption expenditures (PCE) rose $59.7 billion, or 0.4 percent, in May. Real PCE grew $32.9 billion, or 0.2 percent, mainly reflected an increase of $18.5 billion in spending for goods and a $15.8 billion increase in spending for services. Within goods, new motor vehicles was the leading contributor to the increase. Within services, the largest contributor to the increase was spending for food services and accommodations.

Personal outlays increased $62.1 billion in May. Personal saving was $985.4 billion in May and the personal saving rate, personal saving as a percentage of disposable personal income, was 6.1 percent.

Personal income went up $88.6 billion, or 0.5 percent, boosted by increases in personal interest income, wages and salaries, and government social benefits to persons.

Disposable personal income (DPI) increased $72.6 billion (0.5 percent). Real DPI increased 0.3 percent in May.

The personal consumption expenditure (PCE) price index in the United States rose 0.2 percent from a month earlier in May, easing from a 0.3 percent gain in April. Prices for services advanced 0.2 percent, slower than a 0.4 percent in the previous month; and cost of goods increased 0.1 percent, after rising 0.2 percent in April, of which nondurable (0.1 percent compared to 0.5 percent) while durable (0.1 percent compared to -0.4 percent). Year-on-year, the PCE price index went up 1.5 percent, below an upwardly revised 1.6 percent in April and the core index advanced 1.6 percent, the same as in the prior month and matching market expectations.

BEA | Joana Ferreira | joana.ferreira@tradingeconomics.com
6/28/2019 12:43:53 PM

News

US Personal Spending Rises More than Expected
Personal spending in the United States increased 0.3 percent from a month earlier in April 2019, following an upwardly revised 1.1 percent gain in March. The latest reading came in above market expectations of a 0.2 percent rise, as an increase in consumption of nondurables and services offset a decline in durables spending
Published on 2019-05-31

US Consumer Spending Rises the Most in 9-1/2 Years
Personal spending in the United States rose 0.9 percent from a month earlier in March 2019, beating market expectations of 0.7 percent and following a 0.1 percent gain in February. That was the biggest increase in personal spending since August 2009, buoyed by increases in consumption of durables, nondurables and services.
Published on 2019-04-29

US Personal Spending Rebounds Less than Expected
Personal spending in the United States edged up 0.1 percent from a month earlier in January, after falling 0.6 percent in December, the most in a decade. The latest reading came in below market expectations of a 0.3 percent gain, as an increase in consumption of nondurables and services offset a sharp decline in durables spending.
Published on 2019-03-29

US Personal Spending Posts Biggest Fall in Over 9 Years
Personal spending in the United States fell 0.5 percent from a month earlier in December 2018, following a downwardly revised 0.6 percent increase in November and compared to market expectations of a 0.2 percent drop. It was the largest decline in personal spending since September 2009.
Published on 2019-03-01

United States Consumer	Last	Previous	Highest	Lowest	Unit
Consumer Confidence	98.40	98.20	111.40	51.70	Index Points	[+]
Retail Sales MoM	0.40	0.40	6.70	-3.90	percent	[+]
Retail Sales YoY	3.40	2.90	11.20	-11.50	percent	[+]
Retail Sales Ex Autos	0.40	0.40	2.60	-4.00	percent	[+]
Consumer Spending	13061.63	13032.30	13061.63	1403.69	USD Billion	[+]
Disposable Personal Income	16028.80	15956.30	16028.80	351.54	USD Billion	[+]
Personal Spending	0.40	0.60	2.80	-2.10	percent	[+]
Personal Income	0.50	0.50	4.60	-4.70	percent	[+]
Personal Savings	6.10	6.10	17.30	2.20	percent	[+]
Consumer Credit	17.09	17.46	116.79	-111.95	USD Billion	[+]
Private Sector Credit	9801.37	9764.44	9801.37	39.04	USD Billion	[+]
Bank Lending Rate	5.50	5.50	20.50	2.00	percent	[+]
Economic Optimism Index	56.60	53.20	62.90	35.80		[+]
Redbook Index	4.90	4.70	9.30	-5.80	percent	[+]
Chain Store Sales	3588.00	3410.00	15875.00	2632.00	USD Million	[+]
Gasoline Prices	0.72	0.75	1.07	0.24	USD/Liter	[+]
Households Debt To GDP	76.30	76.60	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		[+]

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. United States Personal Spending - actual data, historical chart and calendar of releases - was last updated on July of 2019.