The ECI is widely viewed by policymakers as one of the better measures of labor market slack and a predictor of core inflation as it adjusts for composition and job quality changes. Labor costs soared 4.5% on a year-on-year basis, the biggest gain since 2001, after increasing 4.0% in the fourth quarter. A separate report from the Labor Department on Friday showed its Employment Cost Index, the broadest measure of labor costs, jumped 1.4% in the first quarter after advancing 1.0% in the October-December period. The Fed raised its policy interest rate by 25 basis points in March, and is soon likely to start trimming its asset holdings.Įven if inflation has peaked, it could remain uncomfortably high for a while. Treasury yields rose.Īnnual inflation by all measures has overshot the Fed's 2% target and the central bank is expected to hike interest rates by half-a-percentage point next Wednesday. The dollar slipped against a basket of currencies. Consumer spending picked up last quarter, combining with business investment to boost domestic demand. This was due to surging imports, and a slower pace of inventory accumulation relative to the fourth quarter's robust rate. The data was included in the advance first-quarter gross domestic product report on Thursday, which showed the economy contracting at a 1.4% annualized rate because of a wider trade deficit. Even with prices sky-rocketing, inflation- adjusted consumer spending eked out a 0.2% gain last month, highlighting the economy's underlying strength in an increasingly turbulent environment. Spending on long-lasting goods like motor vehicles fell for a second straight month because of shortages.Įconomists polled by Reuters had forecast consumer spending increasing 0.7%. Spending on goods increased 1.2%, mostly reflecting gasoline and other energy products, as well as food, whose prices have risen sharply. There were also increases in healthcare spending and outlays on recreation and transportation services. Spending on services increased 1.1%, lifted by demand for international travel, dining out at restaurants as well as hotel stays. Data for February was revised higher to show outlays advancing 0.6% instead of 0.2% as previously reported. economic activity, surged 1.1% last month, the Commerce Department said. "No recession on the horizon yet."Ĭonsumer spending, which accounts for more than two-thirds of U.S. Personal Consumption Expenditures Percent Change : Shows year-to-year percent change in personal consumption expenditures in Florida."There's nothing about to go wrong with the economy with the consumer still cheerleading the way forward to prosperity," said Christopher Rupkey, chief economist at FWDBONDS in New York.
![personal consumption expenditures personal consumption expenditures](https://s31322.pcdn.co/wp-content/uploads/2019/06/Personal-Consumption-Expenditures-Deflator.jpg)
Personal Consumption Expenditures per Capita: Shows prototype estimates of personal consumption expenditures per capita in Michigan. Personal Consumption Expenditures: Shows prototype estimates of personal consumption expenditures on recreational goods and vehicles in Colorado. There are many, many more indicators on this topic in the repository - use additional search terms or contact your library staff for help in formulating your search strategy. These are just a sampling to give you an idea of the granularity of the available data. The indicators below are linked to DataSheets.
![personal consumption expenditures personal consumption expenditures](http://wolfstreet.com/wp-content/uploads/2016/04/US-Personal-consumption-expenditure-v-GDP.png)
![personal consumption expenditures personal consumption expenditures](http://static.cdn-seekingalpha.com/uploads/2010/11/24/saupload_pce_headline_core.png)
![personal consumption expenditures personal consumption expenditures](https://www.sunshineprofits.com/media/cms_page_media/2016/4/20/PCE-gold-price.png)
From the infographic, you can also enter Data-Planet Statistical Datasets to further manipulate the data and explore relationships between these statistics and other indicators in the vast Data-Planet repository. Clink on the links below to view DataSheets comprising statistical abstracts complete with infographics of metrics associated with personal consumption expenditures in US states in Data-Planet Statistical Ready Reference.