Personal Spending m/m reflects a change in the amount of all funds spent by consumers in the given month compared to the previous one. The calculation includes expenditures for durable and nondurable goods and services, bank transfers, interest payments, etc.
The US BEA (Bureau of Economic Analysis) releases the indicator as part of the Personal Income and Outlays report, along with Personal Income. Analysts often interpret these two indicators in combination, since the ratio between these two values is taken into account when assessing the activity of consumers and for predicting their further behavior. For example, if consumers spend too much of their income and reduce their savings, economic growth may slow down in the future.
Consumer spending is a significant part of national GDP. That is why the index is used to forecast current period GDP. The value is also used in the calculation of inflation rate. In addition, the indicator is closely monitored by investors, who need to understand changes in the share of spendings for various categories of goods and services. This information can help improve the efficiency of investment planning.
Increase in the indicator value can affect USD quotes positively, as it is an indication of inflationary growth.
The chart of the entire available history of the "United States Personal Spending m/m" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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