Hispanic or Latino origin of reference person: Average annual Table 16. This fell to 89 percent in 2020 and rose to 91 percent in 2021. The loosening of travel restrictions, gradual return to the office, and rising gasoline prices surely influenced the rise in expenditures of gasoline, other fuel, and motor oil. CE data are used by a wide variety of stakeholders, such as government agencies, the private sector, and academia to generate cutting edge research. 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. As a result, data collection on a continuing basis began in late 1979, with the U.S. Census Bureau conducting the surveys for BLS. The onset of the pandemic had a strong impact on economic activity and behavior, heavily influencing the housing market and, by extension, a CUs decision to rent or buy. Spending & Time Use; Consumer Expenditures ; How Americans Spend Time; International; . . Consumer Income Overview & Statistics - Study.com With the onset of the COVID-19 pandemic in 2020, total food expenditures fell, before recovering and surpassing 2019 levels in 2021. The largest share of consumer spending is generally allocated to housing (chart 2A). The team relies on three key statistical methods to decide which survey is more reliable including: counts sufficiency; statistical significance through the transmission mechanism of weighted z-scores; and, starting in 2020, the introduction of edit rates to gauge data quality. Spending on medical services increased for every age group in 2021, though the smallest increase was 3.2 percent by those 4554 years old. Even in times of price stability, income is arguably the most important predictor of expenditures. The two exceptions were two subcategories: lodging and transportation (table J). What is the "market-based" PCE price index? 4 As reported by Kelly Blue Book in January of 2022, the average price of a new car that rolled off the lot was $47,077, considerably more than the average annual expenditure for a car at the all consumer units level. This pattern is most evident for food away from home; percent reporting fell from 74 to 60 percent, then rose to 65 percent.8. In food, pandemic-related concerns about safety and government-mandated closures made many consumers rethink their mix of food at home and food away from home. Average annual expenditures by major category of all consumer units and percent changes, Consumer Expenditure Surveys, 201821, Chart 1. The Cost of Living in Spain - Budgeting for Spain's Major Cities One UCC switched from Interview to Diary, that being Girls skirts. The largest increase in spending on drugs was by those 4554 years old, rising 15.3 percent. The gradual return to in-person learning for children might explain this trend. The most populous state in the West and in the broader United States is California, with the three most populous cities in the state being Los Angeles, San Francisco, and San Diego. Personal care products and services increased by a tenth of 1 percentage point. Food at home declined to 7.9 percent and food away from home reached 4.5 percent of total expenditures. Shares of total expenditures for food at home remain 0.5 percentage points higher than its 2019 level and food away from home remains 1.1 percentage points less than its 2019 level (chart 4). New estimates of local, state, and federal tax liabilities were included in the 2013 PUMD release and thereafter. The South and West experienced similar declines; as homeownership rates fell (and, therefore, rental rates rose) in 2021, the homeownership rate in the South remained 2.0 percentage points above its 2019 level. In the 2008-09 price change, when the United States was in a recessionary period (which the National Bureau of Economic Research (NBER) denotes as having occurred from December of 2007 through June 2009), expenditures and prices fell 26.8 and 26.9 percent, respectively.17 In 2012, gasoline saw concurrent falls in prices and expenditures of 3.3 and 3.9 percent, respectively. Though not by much, the largest decline of 59.6 percent was for the second quintile, with the first and third nearly tied at about 57 percent each (chart 13B). The corresponding rental rate rose to 35 percent in 2021, returning to its average for the time series. Statista. Tables in this report include data integrated from the Diary Survey and Interview Survey components of the CE. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2023, Quarterly smartphone market share worldwide by vendor 2009-2023, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. For example, a New York-based CU would record spending on a taxi or limousine within Manhattan but not for one from the airport to the hotel at the start of an out-of-town trip. CONSUMER EXPENDITURES--2021 - 2021 A01 Results - U.S. Bureau of Labor Spending on reading material remained constant at $114 per year, while spending on education fell by 3.5 percent, potentially because of reduced annual amounts paid by CUs on tuition and student loan payments, as shown in our detailed level tables, which can be found in the technical notes section (detailed tables, 198421). Some further mining found gold in Phoenix, AZ and Honolulu, HI. 3 STUB files show hierarchical groupings,whichinclude a description of each UCC along with its hierarchical standing within each expenditure or income category for a given year. To account for this, average annual expenditures are converted to average quarterly expenditures to reflect the quarterly waves of the interview survey. Income before taxes: Average annual expenditures and Table 2. Thus, some consumers, potentially on the lower end of the income distribution, would not have been able to maintain quantities purchased once prices rose. How are personal consumption expenditures (PCE) prices and quantities derived? Total real US personal consumption expenditures will take until 2022 to exceed 2019 levels (in $ trillion) Source: BEA for 2018, 2019; World Data Lab projections based on IMF and other. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information How Americans Make and Spend Their Money, by Income Group However, the transportation component was the hardest hit, falling 65 percent in 2020. What accounts for the differences in the PCE price index and the Consumer Price Index? (See chart 8.) Although expenditures on apparel were still below pre-COVID spending, apparel spending increases in 2021 were consistent across CUs of all sizes. Uno de los datos ms llamativos de esta revisin es que el PIB a precios corrientes de la Comunidad de Madrid super en 2018 al de Catalua. In each successive month of 2021, inflation had been on a continual upward trend, beginning with a 12-month percent change of 1.4 percent in January and reaching 7.0 percent in December. Figure 1. Population size of area of residence: Average annual expenditures Table 6. Housing expenditures, which account for the largest share of total spending, rose 5.6 percent in 2021. CE introduced a computer assisted personal interviewing (CAPI) instrument for the two surveys. (See table A. (See detailed level tables for spending on components of travel expenditures.) Wetherspoon Shares Rise as Profit Outlook Improves for Next Year ), For those with at least a high school degree, the mean quarterly expenditure for a new car or truck rose gradually from 2019 to 2021. The goods and services purchased by, or on behalf of, people living in the United States. All prices, as measured by the CPI-U, increased 4.7 percent from 2020 to 2021 (annual average index). Annual percent change for major expenditure groups, 202021, Chart 2A. Data are in current U.S. dollars. (See chart 4. At the same time, the CPI for food away from home increased 4.5 percent in 2020 and 2021. These files use this naming convention: CE-HG-Inter-2017. Selected age of reference person: Average annual expenditures Table 15. The most recent CE publication is Meal Appeal: Patterns of expenditures on food away from home., Beyond the Numbers articles take a more in-depth look at a topic of interest, focusing on more in-depth analysis and commentary, with a selection of related charts and tables. When interpreting CE data, the user should keep a few key points in mind. Contact CE The Consumer Expenditure Surveys (CE) program provides data on expenditures, income, and demographic characteristics of consumers in the United States. Consumer spending by income quintiles U.S. 2021 | Statista Within the apparel and services category, the biggest increase in a major component, 48.6 percent, occurred in the other apparel products and services expenditure category. This uptick in reporting the purchase of an automobile could be tied to the fact that positions with an education obtainment of at most a bachelors degree were more likely to be deemed essential workers.16 Alternatively, people with at most a bachelors degree could have put additional wear on their cars by working part-time as drivers in the rapidly growing food delivery app industry, made popular by the pandemic. The Diary Survey files contain expenditure data in two different formats: EXPD files that present weekly values in the same item-coding framework based on the CPI-U pricing scheme and FMLD files that present user-friendly summary expenditure variables. Other items collected in the Diary Survey include tobacco; housekeeping supplies; nonprescription drugs; daily transportation needs, such as gasoline, taxi fares, and tolls; personal care products and services; and apparel. [1] There are two components of consumer spending: induced consumption (which is affected by the level of income) and autonomous consumption (which is not). In 2021, when asked how much they spent on motorized recreational vehicles in the last year, CU's making over $200,000 averaged $2,385 in expenditures, continuing to outspend all other income groups. To craft a complete picture of how illuminating the CE is, it is important to consider its extensive history; individual components; how seamlessly it interacts with other stakeholders within the Bureau of Labor Statistics (BLS) and outside of the agency; and practical, published applications of the data. 7, no. Size of consumer unit by income before taxes. More information about these events is available on the CE website (https://www.bls.gov/cex/ceworkshopthankyou.htm). Meal Appeal: Patterns of expenditures on food away from home. This increase is attributable to a 119.4-percent increase in the subcategory of jewelry expenditures, rising from an increase in wedding bookings and other formal functions. Concretamente, el PIB madrileo se situ Such points should be considered when comparing reported averages with the circumstances of any individual CU of interest. ", Bureau of Labor Statistics, Share of average annual consumer expenditure on major categories in the United States in 2021, by income quintiles Statista, https://www.statista.com/statistics/247420/percentage-of-annual-us-consumer-spending-by-income-quintiles/ (last visited July 14, 2023), Share of average annual consumer expenditure on major categories in the United States in 2021, by income quintiles [Graph], Bureau of Labor Statistics, September 8, 2022. In the pre-COVID-19 pandemic period (2019), food away from home represented roughly 43 percent of total food spending, or 5.6 percent of total expenditures in both 2018 and 2019 (chart 4). In contrast, levels of expenditures in 2020 ranged from $1,266 for CUs with reference persons under age 25 to $3,628 for CUs with reference persons ages 3544. Price elasticity of demand in this case is how much less gasoline people buy when it becomes more expensive. Respondents keep detailed entries of consumption for several key expenditure categories. Spending by residents of the 50 states and D.C. Consumer spending adjusted for state price level differences and national inflation, Measures inflation in the prices paid by people living in the United States, The core PCE price index excludes two volatile categories to reveal underlying inflation, 4600 Silver Hill Road Suitland, MD 20746, Personal Consumption Expenditures Price Index, Personal Consumption Expenditures Price Index, Excluding Food and Energy. Occupation of reference person: Average annual expenditures and Table 17. Spain consumer spending for 2019 was $799.90B, a 3.16% decline from 2018. For a snapshot of how inflation could impact measures of consumer spending in 2021, take a theoretical family that spent 5.0 percent more on goods and services relative to 2020. Given COVID-19 related disruptions to the economy in 2020 (increased unemployment, etc. Population size of area of residence: Average annual expenditures and characteristics, Consumer Expenditure Surveys, 2021, Table 6. May 26, 2023. The CPI shows that prices for food at home increased 3.5 percent in both 2020 and 2021, compared with the 6.4-percent increase in expenditures in each year. Quintiles of income before taxes: Average annual expenditures and Table 3. Compounding the pressure on the average CU of inflation and supply chain constraints, further waves of COVID-19 emerged in 2021. At the time, the survey was administered on a roughly 10-year basis, leading to noticeable gaps in spending data. It may also include delivery to a consumers home or table or the implicit costs of nonessentialssuch as convenience, ambiance, and so forth. These files use this naming convention: CE-HG-Diary-2017. As Americans adjusted to the ongoing pandemic, 2021 should have been the year in which consumers hit the open road en masse, filling up their cars, trucks, and SUVs with great frequency. Entertainment expenditures by age group, U.S. dollars, 201321, Table G. Other supplies, equipment, and services category by income before taxes, 2020, Table H. Other supplies, equipment, and services category by income before taxes, 2021, Table I. What is the I-O commodity composition of the National Income and Product Accounts (NIPA) PCE categories? The Diary Survey is designed to capture expenditures on small, frequently purchased items that are normally more difficult for respondents to recall purchasing multiple months ago. Documentation of the CE PUMD, its conventions, files, sample code, and methodology, can be found at www.bls.gov/cex/pumd-getting-started-guide.htm. Before sharing sensitive information, Recent changes in expenditure shares show a mixed picture. Integrated tables also provide expenditure breakdowns by the 17 demographic characteristics collected in the CE, allowing for analyses of comprehensive spending trends by such characteristics as education level, occupation, and housing tenure. Answer questions like: How strong was consumer spending compared with the month before? Older consumers are more likely to need more costly and extensive care, medical equipment, prescription drugs, and other healthcare goods and services to maintain quality of life. The components of chart 10A influence chart 10B. Price elasticity of demand is a measure of how much consumers change the amount of a good they buy when the price of that good changes. As stated, prices displayed are for urban areas only and some of said urban areas experienced higher prices relative to others. Fear of COVID-19 and the economic impact of the pandemic were enough to keep a . Consumer spending on public transportation rebounded in 2021 after a large decline in 2020, Single men outspent single women on entertainment in 201920, but single women spent more on pets. 15 Charts 9A and 9B are constructed from data sourced from the Interview detailed level tables (available upon request). Spending by U.S. consumers in major cities is up more than 15% compared to two years ago, fueling a rapid economic recovery that remains on fragile . selected states by income before taxes including California, Florida, New York, New Jersey, and Texas. Two factors that simultaneously accompanied and contributed to inflation in 2021 were an ongoing supply chain bottleneck and the associated semiconductor chip shortage. 10 (June 2018), www.bls.gov/opub/btn/volume-7/housing-and-expenditures-before-during-and-after-the-bubble.htm. For collection years 2019 and 2020, BLS used its own unique definition of what constitutes urban and rural, on the basis of metropolitan and micropolitan statistical areas (MSAs and MiSAs). To illustrate this idea, imagine a basic equation where total gasoline expenditures of G is a function of the annual price paid by consumers of P, multiplied by the annual quantity of gallons purchased of Q. The less frequently an item is purchased, the greater the difference between the average for all CUs and the average for those purchasing the item. Take new cars for example. Other notable price increases include a 26.6-percent increase for used cars and trucks and a 3.9-percent increase for food. In 2021, many restaurants reopened, but the Omicron and Delta COVID-19 variants were likely to be responsible for the lack of full recovery in food away from home expenditures in 2021. Copied. BLS sponsors a microdata users workshop. Like food, housing is largely a dichotomous topic. Nevertheless, it is interesting to see how the pandemic affected these expenditures for each income quintile. Any of the following are sources of non-sampling error: the inability or unwillingness of respondents to provide correct information regarding spending patterns, differences in interviewers abilities to harvest information from respondents, mistakes in recording or coding, and other processing errors. A monthly update on the state of the US consumer: June 2023 Users of these survey data should also keep in mind that the data reflect conditions at the time they were collected, which may be different than current circumstances. These changes affected the allocation of the total food dollar, as shown in chart 4. This archive provides tables from as far back as 196061. For the purposes of this analysis, the six expenditure categories to which consumers allocate on average the smallest shares of their total expenditures are combined into the all other expenditures category (chart 2A). Inflation poses risks for consumer spending | Deloitte Insights Consumer Spending | U.S. Bureau of Economic Analysis (BEA) The 56.2-percent increase amounted to an increase of $858.50, greater than the increases in this category for all the other income groups combined. With reduced supply in the new vehicle market, expectations would dictate higher prices and thus mean higher quarterly expenditures for vehicles among all education groups. In a similar fashion, for the Interview Survey, the U.S. Census Bureau visits 13,175 addresses on a quarterly basis, with 11,000 of those addresses having eligible, occupied housing units. 0:51. Prices for a room in the center (within the M30 limits) can start at 350 and go as high as you can imagine. (See chart 3.) The percent reporting data shown above represent what happened in ones own neighborhood, rather than out of town. Bureau of Labor Statistics. The Northeast was the only region to show growth in homeownership rates at 1.0 percentage point. This also works in the reverse fashion; prices can fall, and expenditures rise, when the percent increase in quantity purchased is larger than the percent decrease in prices. The This warranted further data exploration. Region of residence: Average annual expenditures and characteristics, Consumer Expenditure Surveys, 2021, Table 5. Free public use microdata are available at thePUMD data files webpage for SAS, STATA, SPSS, and Excel for the years 1980 to 2021. Homeownership rate, Consumer Expenditure Surveys, 201921, Chart 7B. Therefore, during the pandemic period, when general health was threatened by engagement in public activities and unemployment markedly increased, one would expect a decline in expenditures for food away from home and an increase in expenditures for food at home. 14 For context on the quantity of microchips in even the most basic of cars, please see Sean Tucker, Customers paying full price, dealers making fortunes, investors nervous anyway chip shortage rocks car market, Kelly Blue Book, April 26, 2021, https://www.kbb.com/car-news/customers-paying-full-price-dealers-making-fortunes-investors-nervous-anyway-chip-shortage-rocks-car-market/#:~:text=The%20average%20new%20vehicle%20uses,electronics%2C%20but%20not%20new%20cars. Similarly, transportation on out-of-town trips recovered least in 2021, with expenditures ($597) 30 percent lower in that year than in 2019. The decline and recovery of consumer spending in the US As of December 2021, both expenditures have seen annual average percent changes in inflation of 6.6 percent and 3.2 percent, respectively.5 Food away from home spending rose 27.6 percent but was still nearly $500 below 2019 levels, likely driven by reluctance of at-risk demographics to eat out amid the multiple COVID-19 waves that emerged in 2021. CUs with reference persons ages 4554 had the highest increase in expenditures in the drugs subcategory whereas CUs with reference persons ages 2534 had the greatest increase in medical supplies spending, but experienced declines in drug spending. Generation of reference person: Average annual expenditures and characteristics, Consumer Expenditure Surveys, 2021, Table 14. The CE has a rich and dynamic history spanning 134 years of survey collection and administration. The data in this report is drawn from a collection of CE tables. While rising inflation poses risks to real consumer spending and hence, economic growth, its potential impact on income inequality is also worrying. Couple this with many companies keeping telework policies in place through much of 2021, and the conditions were present for fewer weekly gallons purchased. To use individual functions (e.g., mark statistics as favourites, set Income continued to grow from 2020 levels but had not reached the level of income growth seen in 2019, when income rose 5.4 percent. Despite the increase in overall spending on new and used cars, it is worth noting that the level of expenditure is not uniform across subgroups. https://www.cdc.gov/museum/timeline/covid19.html. Six subcategories grew at rates below 10 percent. Recent articles published in The Economics Daily from CE economists include Consumer spending on public transportation rebounded in 2021 after a large decline in 2020, Single men outspent single women on entertainment in 201920, but single women spent more on pets, Changes to consumer expenditures during the COVID-19 pandemic, and Consumer expenditures on travel declined sharply from 20192020., Articles in Spotlight on Statistics present their stories via a collection of charts, focusing on the visual aspect of presenting CE data to the viewer. facts. With the latest CPI geographic revisions, BLS is making efforts to align the urban areas sampled by the CPI and the CE. How is the federal Consumer Assistance to Recycle and Save Act of 2009 (i.e., the CARS program) reflected in the National Income and Product Accounts (NIPAs)? People must decide whether they want to rent or own their dwelling. BEA Data Consumer Spending Consumer Spending Consumer Spending The nation's primary measure of consumer spending, or personal consumption expenditures Consumer Spending by State Spending by residents of the 50 states and D.C. Real Consumer Spending by State Consumer spending adjusted for state price level differences and national inflation Mean quarterly expenditures jumped from 2020 to 2021. In 2021, spending was higher than 2020 in 12 of the 14 expenditure subcategories. . ), In 2021, the rate of increase in entertainment expenditures for the average CU (22.7 percent) outpaced the rate of increase in total expenditures (9.1 percent). In addition, the data are required for the regular revision of the Consumer Price Index (CPI) market basket. Spain Consumer Spending 1970-2023 | MacroTrends Percent distribution of total annual expenditures by major category for all consumer units, Consumer Expenditure Surveys, 201821, Table C. Dollar change and percent change in average annual expenditures on major categories by income quintiles, 202021, Chart 3. Real spending growth, defined as the rate of nominal spending growth minus the rate of inflation, was 0.3 percent (i.e., 5.0 minus 4.7 percent), meaning that much of the increase in the familys spending can be attributed to higher prices rather than to an increase in quantities purchased or living standards. In general, housing expenditures increased 5.6 percent from 2020 to 2021, following a 3.5-percent increase from 2019 to 2020 (table A). Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.4% last month after falling 0.2% in July. Entertainment expenditures, average CU, U.S. dollars, 201321, Chart 12B. 6 For data on the median sale price of a home in the United States by quarter, please see https://fred.stlouisfed.org/series/MEDDAYONMARUS#0. India: consumer spending 2022 | Statista A given consumer unit (CU) under this scheme would be visited in January, April, July, and October. The workshop also features presentations from researchers not affiliated with BLS, who describe the nature of their projects, the specific files they use, the variables they use, the problems they encountered, the solutions they used when working with the data, and any other relevant topics.