Widget Image
Follow PPD Social Media
Tuesday, November 5, 2024
HomeNewsEconomyConsumer Spending Matches Modest Expectations in February

Consumer Spending Matches Modest Expectations in February

consumer-spending
consumer-spending

A shopper organizes his cash before paying for merchandise at a Best Buy Co. store in Peoria, Illinois, U.S., on Friday, Nov. 23, 2012. (Photo: Daniel Acker/Bloomberg/Getty)

The Commerce Department on Monday reported consumer spending rose modestly by $11.0 billion, or 0.1% in February, matching the media forecast revealed in a poll by Reuters. Spending, which accounts for more than two-thirds of U.S. economic activity, will likely not be enough to boost gross domestic product (GDP) beyond the previously estimated, historically weak rate of around 2%.

Meanwhile, personal income rose by $23.7 billion, or 0.2% in February, topping the median estimate for a rise of 0.1%.

Real DPI increased 0.3 percent in February, the same increase as in January.  Real PCE increased
0.2 percent in February, in contrast to a decrease of less than 0.1 percent in January.

                                        2015                                            2016
                                        Oct.            Nov.            Dec.            Jan.            Feb.
                                                       (Percent change from preceding month)
Personal income, current dollars        0.3             0.3             0.3             0.5             0.2
Disposable personal income:
 Current dollars                        0.2             0.2             0.3             0.4             0.2
 Chained (2009) dollars                 0.2             0.1             0.3             0.3             0.3
Personal consumption expenditures:
 Current dollars                        0.2             0.4             0.1             0.1             0.1
 Chained (2009) dollars                 0.1             0.3             0.2             0.0             0.2

Written by

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

People's Pundit Daily
You have %%pigeonMeterAvailable%% free %%pigeonCopyPage%% remaining this month. Get unlimited access and support reader-funded, independent data journalism.

Start a 14-day free trial now. Pay later!

Start Trial