Key information about United States Private Consumption: % of GDP

• United States Private Consumption accounted for 68.8 % of its Nominal GDP in Dec 2024, compared with a ratio of 67.7 % in the previous quarter.
• US Private Consumption contribution to Nominal GDP ratio is updated quarterly, available from Mar 1947 to Dec 2024, with an average share of 63.5 %.
• The data reached an all-time high of 68.8 % in Dec 2024 and a record low of 57.7 % in Mar 1952.

• In the latest reports, US GDP expanded 1.8 % YoY in Mar 2023.
• Its Nominal GDP reached 6,632.4 USD bn in Mar 2023.
• US GDP Per Capita reached 59,484.0 USD in Dec 2017.
• Its Gross Savings Rate was measured at 16.0 % in Mar 2023.

Graph and download economic data for Shares of gross domestic product: Personal consumption expenditures (DPCERE1Q156NBEA) from Q1 1947 to Q4 2024 about Shares of GDP, PCE, consumption expenditures, consumption, personal, GDP, and USA.

Household final consumption expenditure (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country. Data are in current U.S. dollars.

The global total consumer spending in was forecast to continuously increase between 2024 and 2029 by in total 16.2 trillion U.S. dollars (+26.61 percent). After the ninth consecutive increasing year, the consumer spending is estimated to reach 77.1 trillion U.S. dollars and therefore a new peak in 2029. Consumer spending here refers to the domestic demand of private households and non-profit institutions serving households (NPISHs). Spending by corporations and the state is not included. The forecast has been adjusted for the expected impact of COVID-19.Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP). As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data is shown in nominal terms which means that monetary data is valued at prices of the respective year and has not been adjusted for inflation. For future years the price level has been projected as well. The data has been converted from local currencies to US$ using the average exchange rate of the respective year. For forecast years, the exchange rate has been projected as well. The timelines therefore incorporate currency effects.Find more key insights for the total consumer spending in countries like North America and Europe.

Graph and download economic data for Contributions to percent change in real gross domestic product: Personal consumption expenditures: Durable goods: Recreational goods and vehicles (DREQRY2Q224SBEA) from Q2 1947 to Q4 2024 about contributions, recreation, PCE, vehicles, durable goods, consumption expenditures, consumption, percent, personal, goods, real, GDP, and USA.

In 2023, housing required the highest amount of consumer expenditure across all races, with Asian individuals spending the most. Additionally, Asian individuals spent more on personal insurance and pensions, as well as education than any other race.

Graph and download economic data for Real Personal Consumption Expenditures (PCEC96) from Jan 2007 to Jan 2025 about headline figure, PCE, consumption expenditures, consumption, personal, real, and USA.

Graph and download economic data for Contributions to percent change in real gross domestic product: Personal consumption expenditures: Goods (DGDSRY2Q224SBEA) from Q2 1947 to Q4 2024 about contributions, PCE, consumption expenditures, consumption, percent, personal, goods, real, GDP, and USA.

In 2023, the average consumer unit in the United States spent about 9,985 U.S. dollars on food. Americans spent the most on housing, at 25,436 U.S. dollars, reflecting around one third of annual expenditure. The total average U.S. consumer spending amounted to 77,280 U.S. dollars.

As of the third quarter of 2024, the GDP of the U.S. grew by 2.8 percent from the second quarter of 2024. GDP, or gross domestic product, is effectively a count of the total goods and services produced in a country over a certain period of time. It is calculated by first adding together a country’s total consumer spending, government spending, investments and exports; and then deducting the country’s imports. The values in this statistic are the change in ‘constant price’ or ‘real’ GDP, which means this basic calculation is also adjusted to factor in the regular price changes measured by the U.S. inflation rate. Because of this adjustment, U.S. real annual GDP will differ from the U.S. 'nominal' annual GDP for all years except the baseline from which inflation is calculated. What is annualized GDP? The important thing to note about the growth rates in this statistic is that the values are annualized, meaning the U.S. economy has not actually contracted or grown by the percentage shown. For example, the fall of 29.9 percent in the second quarter of 2020 did not mean GDP is suddenly one third less than a year before. In fact, it means that if the decline seen during that quarter continued at the same rate for a full year, then GDP would decline by this amount. Annualized values can therefore exaggerate the effect of short-term economic shocks, as they only look at economic output during a limited period. This effect can be seen by comparing annualized quarterly growth rates with the annual GDP growth rates for each calendar year.

Key information about China Private Consumption: % of GDP

• China Private Consumption accounted for 39.6 % of its Nominal GDP in Dec 2023, compared with a ratio of 37.8 % in the previous year.
• China Private Consumption contribution to Nominal GDP ratio is updated yearly, available from Dec 1952 to Dec 2023, with an average share of 49.3 %.
• The data reached an all-time high of 70.8 % in Dec 1962 and a record low of 34.9 % in Dec 2010.

• In the latest reports, China GDP expanded 4.5 % YoY in Mar 2023.
• Its Nominal GDP reached 4,166.8 USD bn in Mar 2023.
• China GDP Per Capita reached 12,621.7 USD in Dec 2023.
• Its Gross Savings Rate was measured at 44.3 % in Dec 2023.

In November 2024, prices had increased by 2.7 percent compared to November 2023 according to the 12-month percentage change in the consumer price index — the monthly inflation rate for goods and services in the United States. The data represents U.S. city averages. In economics, the inflation rate is a measure of the change in price level over time. The rate of decrease in the purchasing power of money is approximately equal. A projection of the annual U.S. inflation rate can be accessed here and the actual annual inflation rate since 1990 can be accessed here. InflationOne of the most important economic indicators is the development of the Consumer Price Index in a country. The change in this price level of goods and services is defined as the rate of inflation. The inflationary situation in the United States had been relatively severe in 2022 due to global events relating to COVID-19, supply chain restrains, and the Russian invasion of Ukraine. More information on U.S. inflation may be found on our dedicated topic page. The annual inflation rate in the United States has increased from 3.2 percent in 2011 to 8.3 percent in 2022. This means that the purchasing power of the U.S. dollar has weakened in recent years. The purchasing power is the extent to which a person has available funds to make purchases. According to the data published by the International Monetary Fund, the U.S. Consumer Price Index (CPI) was about 258.84 in 2020 and is forecasted to grow up to 325.6 by 2027, compared to the base period from 1982 to 1984. The monthly percentage change in the Consumer Price Index (CPI) for urban consumers in the United States was 0.1 percent in March 2023 compared to the previous month. In 2022, countries all around the world are experienced high levels of inflation. Although Brazil already had an inflation rate of 8.3 percent in 2021, compared to the previous year, while the inflation rate in China stood at 0.85 percent.

In 2023, the lowest 20 percent of income consumer units spent about 41.3 percent of their total expenditure on housing. Consumer units belonging to the highest 20 percent of income spent only 29.2 percent on housing. Additionally, those in the highest income quintile spent 17.7 percent of their total expenditure on personal insurance and pensions, while the lowest 20 percent spent only 2.1 percent.

Graph and download economic data for Expenditures: Total Average Annual Expenditures by Deciles of Income Before Taxes: Fifth 10 Percent (41st to 50th Percentile) (CXUTOTALEXPLB1506M) from 2014 to 2023 about percentile, tax, average, expenditures, income, and USA.

As of March 2020, 64 percent of consumers in the United States didn't expect that the coronavirus pandemic would change the amount of money that they typically spent on American goods. However, almost a quarter (24 percent) expected that they would spend more on goods made in the USA.

The United States responds to the virus spreading In an attempt to slow the spread of the virus, many states have now begun to temporarily close schools, bars, restaurants, and movie theaters, ban large public gatherings, and encourage workers to work from home. As a growing amount of people feel increasing concern, behavior seems to be changing. People are less likely to go to public spaces such as shopping malls, and are spending more at wholesale club retailers.

Potential effects of COVID-19 Social and economic impacts are already felt by many as day-to-day life slows to a stop in numerous places around the world during work-from-home initiatives and quarantines. International trade, international travel, and the global economy have been struck by flight cancellations, postponement of public events, and falling stocks. Individuals are increasingly fearful that the outbreak will personally affect their financial stability.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

United States US: Proportion of Population Spending More Than 25% of Household Consumption or Income on Out-of-Pocket Health Care Expenditure: % data was reported at 0.781 % in 2013. This records a decrease from the previous number of 0.856 % for 2012. United States US: Proportion of Population Spending More Than 25% of Household Consumption or Income on Out-of-Pocket Health Care Expenditure: % data is updated yearly, averaging 0.880 % from Dec 1995 (Median) to 2013, with 18 observations. The data reached an all-time high of 1.078 % in 2000 and a record low of 0.724 % in 2008. United States US: Proportion of Population Spending More Than 25% of Household Consumption or Income on Out-of-Pocket Health Care Expenditure: % data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s USA – Table US.World Bank: Poverty. Proportion of population spending more than 25% of household consumption or income on out-of-pocket health care expenditure, expressed as a percentage of a total population of a country; ; Wagstaff et al. Progress on catastrophic health spending: results for 133 countries. A retrospective observational study, Lancet Global Health 2017.; Weighted Average;

Graph and download economic data for Real Personal Consumption Expenditures (PCECC96) from Q1 1947 to Q4 2024 about PCE, consumption expenditures, consumption, personal, real, GDP, and USA.

In the United States, consumer spending on media was estimated to grow by six percent in 2022. According to the forecast scenarios, the expenditure would decrease by four or eight percent in the following year.

Scenario A: According to this first scenario, the recession would only have a short-term impact on consumers' media spending. At the height of the recession in 2023, consumers are expected to spend less on entertainment to offset rising energy and consumer product prices. The economy should begin to recover from the recession by 2024 and should be fully mended by 2027, while spending on media will be back to pre-pandemic levels.

Scenario B: The second scenario predicts a long-term impact of the recession on media consumption behavior. Ad-supported options will replace subscription-based offers, whereas on-and-off subscribing will increase, driven by special offers and consumers unsubscribing after those offers expire. The inflation will hit harder in 2023 than according to the first scenario and behavior changes will stick even after 2027 when the economy has fully recovered.

United States - Contributions to percent change in real gross domestic product: Personal consumption expenditures: Services: Health care was 0.81000 Percentage Points at Annual Rate in January of 2021, according to the United States Federal Reserve. Historically, United States - Contributions to percent change in real gross domestic product: Personal consumption expenditures: Services: Health care reached a record high of 0.81000 in January of 2021 and a record low of -0.97000 in January of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Contributions to percent change in real gross domestic product: Personal consumption expenditures: Services: Health care - last updated from the United States Federal Reserve on March of 2025.

United States - Contributions to percent change in gross domestic product price index: Personal consumption expenditures: Goods was -0.09000 Percentage Points at Annual Rate in October of 2024, according to the United States Federal Reserve. Historically, United States - Contributions to percent change in gross domestic product price index: Personal consumption expenditures: Goods reached a record high of 6.11000 in January of 1951 and a record low of -4.17000 in October of 2008. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Contributions to percent change in gross domestic product price index: Personal consumption expenditures: Goods - last updated from the United States Federal Reserve on March of 2025.