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US Consumer Spending Rise May Be Short-Lived

Video credit: Wochit Business
Published 3 days ago - Duration: 00:41s

US Consumer Spending Rise May Be Short-Lived

Personal consumption expenditures are the value of goods and services purchased by or for people.

It is commonly called PCE and it grew in the US by 8.2% in May when compared with April.

This marks the metric's first positive result since January, reports Business Insider.

PCE growth was flat month-to-month in February, before dropping 6.6% in March and 12.6% in April.

This is a direct result of the coronavirus pandemic took its toll.

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