Personal spending in the United States declined 1.0 percent from a month earlier in February 2021, following an upwardly revised 3.4 percent growth in January and compared with market consensus of a 0.7 percent drop. It was the largest decline in consumer spending since the April 2020 record slump as the cold weather weighed on demand and the boost from a second round of stimulus checks faded. Consumption of durable goods slumped 4.7 percent (vs 11.9 percent in January) and that of non-durable goods dropped 2.0 percent (vs 6.5 percent in January). Meanwhile, spending on services was up 0.1 percent (vs 0.9 percent in January). Real PCE fell 1.2 percent in February, due to decreases in spending for both goods and services. source: U.S. Bureau of Economic Analysis
Personal Spending in the United States averaged 0.53 percent from 1959 until 2021, 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 April of 2021.
Personal Spending in the United States is expected to be 1.50 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 0.70 in 12 months time. In the long-term, the United States Personal Spending is projected to trend around 1.00 percent in 2022, according to our econometric models.