Personal Spending m/m

Indicator History

History of Event Dates
Event Date Time For
Period
Currency Actual Forecast
What is this indicator?

Personal Spending m/m is a monthly economic indicator that measures the change in the total amount of money spent by individuals and households on goods and services over a given month, compared to the previous month.


Why is it important?

Personal Spending m/m is important because it provides insight into the level of consumer spending, which is a major driver of economic growth. Consumer spending accounts for a significant portion of Gross Domestic Product (GDP), which measures the total output of goods and services in an economy. A higher personal spending m/m indicates that consumers are spending more money, which can stimulate economic growth and job creation. Moreover, personal spending m/m is a key indicator of inflation. Higher levels of consumer spending can lead to increased demand for goods and services, which can push prices higher. Therefore, a higher personal spending m/m may suggest that inflationary pressures are building, which could prompt the Federal Reserve to raise interest rates to keep inflation in check.

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