Personal consumption expenditure in the US increased 1 percent month-over-month in August of 2020, above market forecasts of a 0.8 percent gain and following a downwardly revised 1.5 percent rise in July. Real personal consumption went up 0.7 percent, reflecting increases in spending for food services and accommodations as well as health care. In contrast, spending on goods declined, mainly due to food and beverages purchased for off-premises consumption.
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. 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 October of 2020.
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 0.40 in 12 months time. In the long-term, the United States Personal Spending is projected to trend around 0.70 percent in 2021 and 1.00 percent in 2022, according to our econometric models.