Personal spending in the United States grew by 0.7% from a month earlier in December 2023, following an upwardly revised 0.4% increase in November and beating market forecasts of a 0.4% rise. The $133.9 billion increase in current-dollar PCE in December reflected an increase of $75.6 billion in spending for services and a $58.4 billion increase in spending for goods. Within services, the largest contributors to the increase were financial services and insurance (portfolio management and investment advice services), health care (both hospitals and outpatient services), and recreation services (gambling). Within goods, the largest contributors to the increase were motor vehicles and parts (new light trucks), other nondurable goods (prescription drugs), and gasoline and other energy goods (gasoline). Meanwhile, real PCE, which is adjusted for inflation, rose 0.5% in December, matching the revised reading of 0.5% in November, amid higher spending on goods (1.1%) and services (0.3%). source: U.S. Bureau of Economic Analysis

Personal Spending in the United States increased 0.70 percent in December of 2023 over the previous month. Personal Spending in the United States averaged 0.54 percent from 1959 until 2023, reaching an all time high of 8.40 percent in May of 2020 and a record low of -11.30 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 February of 2024.

Personal Spending in the United States increased 0.70 percent in December of 2023 over the previous month. Personal Spending in the United States is expected to be -0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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United States Personal Spending


Calendar GMT Reference Actual Previous Consensus TEForecast
2023-12-22 01:30 PM
Personal Spending MoM
Nov 0.2% 0.1% 0.3% 0.2%
2024-01-26 01:30 PM
Personal Spending MoM
Dec 0.7% 0.4% 0.4% 0.3%
2024-02-29 01:30 PM
Personal Spending MoM
Jan 0.7% 0.2% 0.2%


Related Last Previous Unit Reference
Consumer Spending 15569.85 15461.38 USD Billion Dec 2023
Disposable Personal Income 20581.63 20529.84 USD Billion Dec 2023
Personal Spending 0.70 0.40 percent Dec 2023
Personal Income 0.30 0.40 percent Dec 2023
Personal Savings 3.70 4.10 percent Dec 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.40 8.40 -11.30 1959 - 2023 percent Monthly
Current Prices, SA

News Stream
US Personal Spending Beats Estimates
Personal spending in the United States grew by 0.7% from a month earlier in December 2023, following an upwardly revised 0.4% increase in November and beating market forecasts of a 0.4% rise. The $133.9 billion increase in current-dollar PCE in December reflected an increase of $75.6 billion in spending for services and a $58.4 billion increase in spending for goods. Within services, the largest contributors to the increase were financial services and insurance (portfolio management and investment advice services), health care (both hospitals and outpatient services), and recreation services (gambling). Within goods, the largest contributors to the increase were motor vehicles and parts (new light trucks), other nondurable goods (prescription drugs), and gasoline and other energy goods (gasoline). Meanwhile, real PCE, which is adjusted for inflation, rose 0.5% in December, matching the revised reading of 0.5% in November, amid higher spending on goods (1.1%) and services (0.3%).
2024-01-26
US Personal Spending Below Forecasts
Personal spending in the United States rose by 0.2% from a month earlier in November 2023, following a downwardly revised 0.1% increase in October and just below forecasts of a 0.3% advance. The $46.7 billion increase in current-dollar PCE in November reflected an increase of $58.8 billion in spending for services and a decrease of $12.1 billion in spending for goods. Within services, the largest contributors to the increase were housing and utilities (housing) and food services and accommodations (purchased meals and beverages). Within goods, the leading contributor to the decrease was gasoline and other energy goods (motor vehicle fuels, lubricants, and fluids). Meanwhile, real PCE, which is adjusted for inflation, rose 0.3% in November, after a downwardly revised 0.1% uptick in October, amid an increase of 0.5% in spending on goods and a rise of 0.2% in spending on services.
2023-12-22
US Personal Spending Rises the Least in 5 Months
Personal spending in the United States rose by 0.2% from a month earlier in October 2023, following a 0.7% increase in September, matching market forecasts. It was the smallest advance in five months, mainly reflecting the impact of elevated interest rates. Spending for services increased by 0.4%, primarily health care (hospital and nursing home services), housing and utilities (housing), and other services (international travel). Conversely, the expenditure on goods fell by 0.2%, led by motor vehicles and parts, namely new motor vehicles, and gasoline and other energy goods. Meanwhile, real PCE which is adjusted for inflation, rose 0.2% in October, after a downwardly revised 0.3% advance in September, reflecting a 0.2% increase in spending on services and a 0.1% rise in spending on goods.
2023-11-30