Personal spending in current dollars in the United States rose by 0.5 percent in June of 2023, surpassing market expectations of a 0.4 percent expansion and accelerating from the upwardly revised 0.2 percent increase in the previous month. The data reflected a $52.1 billion in spending on services, while goods spending totaled $49.1 billion, underscoring consumers’ resilience to higher interest rates and backing a batch of recent releases that strengthened the argument for the Federal Reserve to remain hawkish. Among services, the largest contributors to increased spending were financial services and insurance, housing utilities, and recreational services. Considering goods, notable spending increases were seen for motor vehicles and parts, gasoline and other energy goods, and vehicle fuels and lubricants. source: U.S. Bureau of Economic Analysis

Personal Spending in the United States averaged 0.54 percent from 1959 until 2023, reaching an all time high of 8.70 percent in May of 2020 and a record low of -12.50 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 August of 2023.

Personal Spending in the United States is expected to be 0.50 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
2023-06-30 12:30 PM May 0.1% 0.6% 0.2% 0.4%
2023-07-28 12:30 PM Jun 0.5% 0.2% 0.4% 0.3%
2023-08-31 12:30 PM Jul 0.5% 0.7% 0.4%


Related Last Previous Unit Reference
Consumer Spending 14418.83 14360.36 USD Billion Jun 2023
Disposable Personal Income 19941.02 19873.52 USD Billion Jun 2023
Personal Spending 0.50 0.20 percent Jun 2023
Personal Income 0.30 0.50 percent Jun 2023
Personal Savings 4.30 4.60 percent Jun 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
0.50 0.20 8.70 -12.50 1959 - 2023 percent Monthly
Current Prices, SA

News Stream
US Personal Spending Rises More than Expected
Personal spending in current dollars in the United States rose by 0.5 percent in June of 2023, surpassing market expectations of a 0.4 percent expansion and accelerating from the upwardly revised 0.2 percent increase in the previous month. The data reflected a $52.1 billion in spending on services, while goods spending totaled $49.1 billion, underscoring consumers’ resilience to higher interest rates and backing a batch of recent releases that strengthened the argument for the Federal Reserve to remain hawkish. Among services, the largest contributors to increased spending were financial services and insurance, housing utilities, and recreational services. Considering goods, notable spending increases were seen for motor vehicles and parts, gasoline and other energy goods, and vehicle fuels and lubricants.
2023-07-28
US Personal Spending Rises Less than Forecast
Personal spending in the United States edged up by 0.1 percent in May 2023, short of market expectations of a 0.2 percent increase and compared to a 0.6 percent gain in April. There was a $52.0 billion increase in spending for services, but this was partly offset by a $33.1 billion decline in spending for goods. Among services, the main contributors to the increase were health care, led by outpatient services, "other" services due to international travel, and transportation services thanks to air transportation. In terms of goods, the largest contributors to the decrease were spending on motor vehicles and parts, led by new light trucks, and gasoline and other energy goods.
2023-06-30
US Personal Spending Rises More than Expected
Personal spending in the United States jumped 0.8% mom in April of 2023, the most in three months, and well above market forecasts of a 0.4% gain, in a sign consumer spending remains robust, supported by higher wages and a tight labour market. Within services, the largest contributors to the increase were spending for financial services and insurance, health care, and professional and other services. Within goods, spending for motor vehicles and parts, led by new motor vehicles and pharmaceutical products accounted the most for the rise. Meanwhile, real PCE which is adjusted for changes in prices, went up 0.5%, reflecting an increase of 0.8% in spending on goods and a 0.3% gain in spending on services. March figures were revised higher to show a 0.1% increase instead of a flat reading initially estimated.
2023-05-26