Archive for the 'Consumer Spending' Category

Real Consumer Spending Slows in May

Personal income increased 0.2 percent in May after increasing 0.5 percent in April. WagesPersonal Income June 29 2016 and salaries, the largest component of personal income, increased 0.2 percent in May after increasing 0.5 percent in April.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.2 percent in May after increasing 0.5 percent in April.

Real DPI, income adjusted for taxes and inflation, increased 0.1 percent in May after increasing 0.2 percent in April.

Real consumer spending (PCE), spending adjusted for price changes, increased 0.3 percent in May after increasing 0.8 percent in April. Spending on durable goods increased 0.6 percent in May after increasing 2.6 percent in April.

PCE prices increased 0.2 percent in May after increasing 0.3 percent in April. Excluding food and energy, PCE prices increased 0.2 percent in May, the same increase as in April.

Personal saving rate
Personal saving as a percent of DPI was 5.3 percent in May and 5.4 percent in April.

For more information, read the full report.

Real Disposable Personal Income June 29

BEA Data Provide a Look into America’s Shopping Carts

consumerspendinggraphicAmerica’s consumers spent more than $12 trillion last year on all kinds of stuff, including new cars, furniture, clothes, groceries, beauty products, electronics, visits to doctors and dentists, and tickets to sporting events and movies.

The Bureau of Economic Analysis produces a slew of data on what people buy and how much they spend.  It’s a critical piece of economic information.  Consumer spending is a major shaper of the overall U.S. economy, accounting for more than two-thirds of GDP.  Beyond that, the statistics can help entrepreneurs and other business people make more informed decisions, offering insights into shoppers’ buying behavior.

Nationwide consumer spending statistics are available on a monthly, quarterly and annual basis. State-by-state statistics detailing consumer spending are also now available.  BEA started producing annual state consumer spending data on a regular basis in 2015. All of BEA’s consumer spending data are accessible from an interactive database on our website.  And, they are all free.

In BEA’s most recent report, released Feb. 26, consumer spending across the country grew by 0.5 percent in January, the most since May. Spending on durable goods, costly manufactured items like cars and furniture, led the way, rising 1.2 percent in January from the previous month.  Consumers’ incomes, the fuel for spending growth, also rose 0.5 percent in January, the largest increase since May.

The consumer spending statistics are among the millions of economic data points that BEA produces and are one example of the kind of economic intelligence that BEA makes available to the public, businesses, students, researchers and policymakers.

Commerce Secretary Penny Pritzker likes to say that the department is “America’s data agency.”   The reach, depth and breadth of the data flowing out of the Commerce Department are unrivaled in the federal government.   Making Commerce’s data even more accessible to the American public is one of the key pillars of Commerce’s “Open for Business Agenda.”

Real Disposable Income Rises in December

Personal income increased 0.3 percent in December, the same increase as in November.Personal Income Feb 1 Wages and salaries, the largest component of personal income, increased 0.2 percent in December after increasing 0.5 percent in November.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.3 percent in December after increasing 0.2 percent in November.

Real DPI, income adjusted for taxes and inflation, increased 0.4 percent in December after increasing 0.2 percent in November.

Real consumer spending (PCE), spending adjusted for price changes, increased 0.1 percent in December after increasing 0.4 percent in November. Spending on durable goods decreased 0.7 percent in December after increasing 1.8 percent in November.

PCE prices decreased 0.1 percent in December after increasing 0.1 percent in November. Excluding food and energy, PCE prices remained flat in December after increasing 0.2 percent in November.

Personal saving rate
Personal saving as a percent of DPI was 5.5 percent in December and 5.3 percent in November.

DPI Feb 1

For more information, read the full report.


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