Consumption and Savings

Source and Methodological Information

List of Indicators

Index of Consumer Sentiment

Total Amount of Outstanding Consumer Credit

Personal Consumption Expenditures per Capita

Growth Rate of Consumption

Average Family Consumption

Personal Consumption Expenditures as a Percent of Disposable Personal Income

Personal Savings as a Percent of Disposable Personal Income

 


Index of Consumer Sentiment

Description

A measure of consumer confidence in the economy, with February 1960 equal to 100. 

Source

Thomson/Reuters/University of Michigan Survey of Consumers.

Methodological Notes

The index is based on the following five questions:

  • "We are interested in how people are getting along financially these days.  Would you say that you (and your family living there) are better off or worse off financially than you were a year ago?"
  • "Now looking ahead--do you think that a year from now you (and your family living there) will be better off financially, or worse off, or just about the same as now?"
  • "Now turning to business conditions in the country as a whole--do you think that during the next twelve months we'll have good times financially, or bad times, or what?"
  • "Looking ahead, which would you say is more likely--that in the country as a whole we'll have continuous good times during the next five years or so, or that we will have periods of widespread unemployment or depression, or what?"
  • "About the big things people buy for their homes--such as furniture, a refrigerator, stove, television, and things like that.  Generally speaking, do you think now is a good or bad time for people to buy major household items?"

 


Total Amount of Outstanding Consumer Credit

Description

Total amount of credit extended to consumers that remains unpaid. 

Source

Federal Reserve Board.

Methodological Notes

The Federal Reserve Board releases estimates of outstanding credit each month. Estimates include both revolving and non-revolving credit lent by commercial banks, finance companies, credit unions, federal government and student loans, savings institutions, nonfinancial businesses, and pools of securitized assets. The values presented are twelve-month averages, adjusted for inflation by the Stanford Center on Poverty and Inequality using the Consumer Price Index for all Urban Consumers – Research Series (CPI-U-RS)

 


Personal Consumption Expenditures per Capita

Description

Total personal consumption expenditures in constant dollars, divided by the country’s total population.

Source

Stanford Center on Poverty and Inequality, using data from the Bureau of Economic Analysis, National Income and Product Accounts Tables and U.S. Census Bureau Population Estimates.

Methodological Notes

Personal consumption expenditures include spending on durable goods (such as motor vehicles and furniture), nondurable goods (such as food, clothing, and gasoline), and services (such as health care and restaurants). Expenditures are adjusted for inflation using the Consumer Price Index for all Urban Consumers – Research Series (CPI-U-RS).

 


 

Growth Rate of Consumption

Description

Percent change from the previous year in total personal consumption expenditures in constant dollars.

Source

Stanford Center on Poverty and Inequality, using data from the Bureau of Economic Analysis, National Income and Product Accounts Tables.

Methodological Notes

Personal consumption expenditures include spending on durable goods (such as motor vehicles and furniture), nondurable goods (such as food, clothing, and gasoline), and services (such as health care and restaurants). Expenditures are adjusted for inflation using the Consumer Price Index for all Urban Consumers – Research Series (CPI-U-RS).

 


 

Average Family Consumption

Description

Average total annual expenditures across consumer units, in constant dollars.

Source

Bureau of Labor Statistics, Consumer Expenditures Survey.

Methodological Notes

Household consumption includes spending on food and alcoholic beverages, housing, apparel, transportation, health care, entertainment, personal care products and services, reading and education, tobacco and smoking supplies, cash contributions to people outside the household, and other miscellaneous spending. Expenditures are adjusted for inflation using the Consumer Price Index for all Urban Consumers – Research Series (CPI-U-RS).

A consumer unit comprises either: (1) all members of a household related by blood, marriage, adoption, or other legal arrangements; (2) a person living alone or sharing a household with others or living as a roomer in a private home or lodging house or in permanent living quarters in a hotel or motel, but who is financially independent; or (3) two or more persons living together who use their income to make joint expenditure decisions. To be considered financially independent, at least two of the three major expense categories—housing, food, and other living expenses—have to be provided entirely, or in part, by the respondent.

A consumer unit’s reference person is the first member mentioned by the respondent when asked to “Start with the name of the persons or one of the persons who owns or rents the home.”

 


 

Personal Consumption Expenditures as a Percent of Disposable Personal Income

Description

Total personal consumption expenditures, divided by total disposable personal income.

Source

Bureau of Economic Analysis, National Income and Product Accounts Tables.

Methodological Notes

Disposable personal income is total income minus taxes. Personal consumption expenditures includes spending on durable goods (such as motor vehicles and furniture), nondurable goods (such as food, clothing, and gasoline), and services (such as health care and restaurants).

 


 

Personal Savings as a Percent of Disposable Personal Income

Description

Total personal savings, divided by total disposable personal income.

Source

Bureau of Economic Analysis, National Income and Product Accounts Tables.

Methodological Notes

Disposable personal income is total income minus taxes. Personal savings is the amount left over after personal consumption expenditures, interest payments, and personal transfer payments (such as government fees and fines) are subtracted from disposable personal income.