Personal spending in the US increased 0.5 percent from a month earlier in October 2020, following a downwardly revised 1.2 percent growth in September and slightly beating market forecasts of 0.4 percent. Real PCE rose 0.5 percent, boosted by increases in spending for both goods and services. Consumption of goods advanced 0.2 percent (vs 1.5 percent in September) boosted by recreational goods and vehicles. In addition, spending on services was up 0.6 percent (vs 0.8 percent in September) due to health care spending. 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 December of 2020.
Personal Spending in the United States is expected to be 0.30 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.