Personal spending in the US rose 0.8% month-over-month in February 2024, the biggest gain since January 2023, above 0.2% in January 2024 and forecasts of 0.5%. It reflects an increase of $111.8 billion in spending for services, mostly financial services and insurance (led by financial service charges, fees, and commissions), transportation services (led by air transportation), and housing and utilities (led by housing). Also, consumption of goods rose $33.7 billion, mostly motor vehicles and parts (led by new light trucks). Adjusted for inflation, consumer spending advanced 0.4%. source: U.S. Bureau of Economic Analysis

Personal Spending in the United States increased 0.80 percent in February of 2024 over the previous month. Personal Spending in the United States averaged 0.54 percent from 1959 until 2024, 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 April of 2024.

Personal Spending in the United States increased 0.80 percent in February of 2024 over the previous month. 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.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-02-29 01:30 PM
Personal Spending MoM
Jan 0.2% 0.7% 0.2% 0.2%
2024-03-29 12:30 PM
Personal Spending MoM
Feb 0.8% 0.2% 0.5% 0.3%
2024-04-26 12:30 PM
Personal Spending MoM
Mar 0.8% 0.3%


Related Last Previous Unit Reference
Consumer Spending 15586.67 15461.38 USD Billion Dec 2023
Disposable Personal Income 20709.27 20658.94 USD Billion Feb 2024
Personal Income MoM 0.30 1.00 percent Feb 2024
Personal Savings 3.60 4.10 percent Feb 2024
Personal Spending MoM 0.80 0.20 percent Feb 2024

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
0.80 0.20 8.40 -11.30 1959 - 2024 percent Monthly
Current Prices, SA

News Stream
US Personal Spending Rises the Most in a Year
Personal spending in the US rose 0.8% month-over-month in February 2024, the biggest gain since January 2023, above 0.2% in January 2024 and forecasts of 0.5%. It reflects an increase of $111.8 billion in spending for services, mostly financial services and insurance (led by financial service charges, fees, and commissions), transportation services (led by air transportation), and housing and utilities (led by housing). Also, consumption of goods rose $33.7 billion, mostly motor vehicles and parts (led by new light trucks). Adjusted for inflation, consumer spending advanced 0.4%.
2024-03-29
US Personal Spending Growth Eases in January
Personal spending in the United States increased by 0.2% from the previous month in January 2024, marking a notable slowdown from the 0.7% rise observed in December, and aligning with market expectations. Spending on services advanced by 1.0% (compared to 0.7% in December) as consumers allocated more funds to housing and utilities, financial services, and insurance due to financial service charges, fees, and commissions, and healthcare expenses such as hospital bills. Meanwhile, spending on goods declined by 1.2% (compared to 0.7% in December), driven by reduced expenditures on motor vehicles and parts, including new light trucks, as well as on gasoline and other energy goods, and other nondurable goods, particularly prescription drugs.
2024-02-29
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