United States Personal Spending

Last Release

Aug 31, 2023

Actual

0.4

Units In

0.9

Frequency

Monthly

Next Release

Oct 27, 2023

Time to Release

27 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
8.6 May 2020	-12.6 Apr 2020	0.53 %	1959-2023	U.S. Bureau of Economic Analysis

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.

Latest Updates

Personal spending in the US increased 0.4% month-over-month in August 2023, in line with market forecasts, and following an upwardly revised 0.9% rise in July. Spending for services increased $47 billion, led by housing, transportation services, and health care (both hospitals and outpatient services). Spending on goods rose $36.7 billion, with the largest contribution coming from gasoline, motor vehicle fuels, lubricants, and fluids, due to higher prices. Meanwhile, real PCE which is adjusted for inflation, rose 0.1%, well below 0.6% in July, as a 0.2% rise in services spending was partially offset by a 0.2% fall in spending on goods.