Consumer Spending Statistics Consumer Spending Habits

Consumer Spending Statistics Consumer Spending Habits In the second quarter of 2024, us consumer optimism fell, mirroring levels seen at the end of 2023. economic pessimism grew slightly, fueled by concerns over inflation, the depletion of personal savings, and perceived weakness in the labor market. these concerns left consumers somewhat conflicted: on one hand, they continued to splurge on food. May 2024. 0.5%. april 2024. 0.2%. consumer spending, or personal consumption expenditures (pce), is the value of the goods and services purchased by, or on the behalf of, u.s. residents. at the national level, bea publishes annual, quarterly, and monthly estimates of consumer spending.

New Data Reveals How Consumer Spending Habits Have Changed Since The Our latest consumer pulse survey was in the field from february 24 to march 1, 2023, and included responses from 3,973 adults in the united states (sampled and weighted to match the general us population). as we’ve done in the past, we combined the survey results with third party data on consumer spending for our analysis. In the early months of 2022, amid record inflation, us consumers continued to open their wallets. us inflation grew to nearly 8.5 percent in march 2022, with the may 2021 to march 2022 period showing the highest inflation in a decade. yet, us consumers spent 18 percent more in march 2022 than they did two years earlier, and 12 percent more than. Consumer expenditures in 2021. the year 2020 was marked by the onset of the covid 19 pandemic and an associated decline in consumer spending. as covid 19 restrictions were repealed and the economy began to open, one would expect 2021 to have been welcomed as the beginning of a strong recovery to pre pandemic levels for expenditures on entertainment, travel, food, apparel, gasoline, healthcare. Rural consumer units saw a decrease in total transportation spending ( 3.3 percent), while consumer units in urban areas increased their total transportation spending by 16.6 percent. consumer units living in urban areas had a bigger increase in gasoline, other fuels, and motor oil spending ( 46.7 percent compared to 38.9 percent for rural.

Consumer Spending Statistics Consumer Spending Habits Consumer expenditures in 2021. the year 2020 was marked by the onset of the covid 19 pandemic and an associated decline in consumer spending. as covid 19 restrictions were repealed and the economy began to open, one would expect 2021 to have been welcomed as the beginning of a strong recovery to pre pandemic levels for expenditures on entertainment, travel, food, apparel, gasoline, healthcare. Rural consumer units saw a decrease in total transportation spending ( 3.3 percent), while consumer units in urban areas increased their total transportation spending by 16.6 percent. consumer units living in urban areas had a bigger increase in gasoline, other fuels, and motor oil spending ( 46.7 percent compared to 38.9 percent for rural. After the covid 19 pandemic began, consumer spending in the second quarter of 2020 was down 9.8 percent from the same period in 2019. one year later, in the second quarter of 2021, the pandemic was still affecting the economy, but businesses and consumers had begun to adapt. Consumer spending is on the rise after covid 19, as the us economy begins to return to pre pandemic levels and consumers get ready to resume their spending habits. with the us economy slowly returning to prepandemic levels, consumer spending is likely to get a shot in the arm as consumers eagerly spend on activities that had screeched to a halt.