Personal spending in the US plunged 13.6 percent month-over-month in April of 2020, following a downwardly revised 6.9 percent fall in March and worse than market forecasts of a 12.6 percent drop. It is the biggest decline on record as COVID-19 lockdown measures led to stores closures and restrain Americans from shopping. Real spending decreased 13.2 percent, led by a decrease in food and beverages and spending for health care as well as food services and accommodations.
Personal Spending in the United States averaged 0.50 percent from 1959 until 2020, reaching an all time high of 2.80 percent in October of 2001 and a record low of -13.60 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 June of 2020.
Personal Spending in the United States is expected to be -2.00 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 0.70 percent in 2021 and 1.00 percent in 2022, according to our econometric models.