Personal spending in the United States was unchanged in May 2021, following an upwardly revised 0.9 percent growth in April and missing market expectations of a 0.4 percent increase. An increase in spending for services was mostly offset by a decline in spending for goods. Within services, increases were widespread, led by recreation services, food services and accommodations, as well as housing and utilities. A decrease in spending on motor vehicles and parts was the leading contributor to the decrease in goods. Meanwhile, the annual core PCE price inflation, the Fed's preferred gauge of inflation, rose to 3.4%, the highest since the 1990s and in line with market expectations. source: U.S. Bureau of Economic Analysis
Personal Spending in the United States averaged 0.53 percent from 1959 until 2021, 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 July of 2021.
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 0.70 in 12 months time. In the long-term, the United States Personal Spending is projected to trend around 1.00 percent in 2022, according to our econometric models.