Personal spending in the US fell 0.4 percent month-over-month in November of 2020, following a downwardly revised 0.3 percent rise in October and worse than market forecasts of a 0.2 percent fall. It is the first decline since a record fall April when the coronavirus pandemic hit the economy hard. Real PCE also went down 0.4 percent, amid lower expenditure on clothing and footwear, new motor vehicles, food services and accommodations as well as in electricity and gas. A notable offset was an increase in spending for food and beverages purchased for offpremises consumption. source: U.S. Bureau of Economic Analysis
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 January of 2021.
Personal Spending in the United States is expected to be -0.40 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.