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.

United States Personal Spending
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Calendar GMT Actual Previous Consensus TEForecast
2019-04-29 12:30 PM Personal Spending MoM 0.1% 0.3% 0.2% 0.3%
2019-04-29 12:30 PM Personal Spending MoM 0.9% 0.1% 0.7% 0.5%
2019-05-31 12:30 PM Personal Spending MoM 0.3% 1.1% 0.2% 0.1%
2019-06-28 12:30 PM Personal Spending MoM 0.4% 0.6% 0.4% 0.2%
2019-07-30 12:30 PM Personal Spending MoM 0.4% 0.3%
2019-08-30 12:30 PM Personal Spending MoM
2019-09-27 12:30 PM Personal Spending MoM



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



United States Consumer Last Previous Highest Lowest Unit
Consumer Confidence 98.20 100.00 111.40 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 4.70 6.20 9.30 -5.80 percent [+]
Chain Store Sales 3418.00 3374.00 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 [+]


United States Personal Spending

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.

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.60 2.80 -2.10 1959 - 2019 percent Monthly
Current Prices, SA




Country Last Previous
France 0.40 May/19
Netherlands 1.80 Apr/19
United States 0.40 May/19


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