United States Personal Spending

Last Release

Jun 30, 2024

Actual

0.3

Units In

0.4

Frequency

Monthly

Next Release

Aug 30, 2024

Time to Release

1 Months 3 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
8.6 May 2020	-12.6 Apr 2020	0.53 %	1959-2024	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 United States increased 0.3% from the previous month in June 2024, in line with market expectations, and following an upwardly revised 0.4% rise in the previous month. The $57.6 billion increase in current-dollar PCE in June reflected an increase of $53.1 billion in spending for services and an increase of $4.5 billion in spending for goods. Within services, the largest contributors to the increase were other services (led by international travel) and housing and utilities (led by housing). Within goods, the main contributors were other nondurable goods (led by pharmaceutical and other medical products) and recreational goods and vehicles (led by information processing equipment), which were partly offset by decreases in motor vehicles and parts (led by new motor vehicles) and gasoline and other energy goods. When considering real consumption expenditure, spending went up by 0.2% from the previous month.