Consumer spending, consumption, or consumption expenditure is when people buy goods and services. It is the biggest part of aggregate demand in macroeconomics. There are two parts of consumer spending: induced consumption (which is changed by the level of income) and autonomous consumption (which is not).
Data[change | change source]
United States[change | change source]
In the United States, the Consumer Spending figure published by the Bureau of Economic Analysis includes three big categories of personal spending.
- Durable goods: motor vehicles and parts, furniture and durable household equipment, recreational goods and vehicles, and other durable goods.
- Nondurable goods: food and drinks bought to consume in a place different from where it was bought, clothes and shoes, gasoline and other energy goods, and other nondurable goods.
- Services: housing and utilities, healthcare, transportation services, recreation services, food services and accommodations, financial services and insurance, and other services.