Consumption (annual variation in %)
Private consumption, also referred to as personal consumption, consumer expenditure, or personal consumption expenditures (PCE), measures consumer spending on goods and services. Private consumption includes all purchases made by consumers, such as food, housing (rents), energy, clothing, health, leisure, education, communication, transport as well as hotels and restaurant services. It also includes durable goods (such as cars), but not households’ purchases of dwellings, which are counted as household investment.
Consumer spending accounts for between half and two-thirds of Gross Domestic Product (GDP) in most countries. Generally, the poorer the country the higher the share of consumption, but there are notable exceptions to this rule (i.e. China, with a rather low ratio, and the United States, with a high proportion). Since private consumption accounts for the largest part of GDP, it is the key engine that drives economic growth.
The table below shows the real percent changes (adjusted for inflation) in private consumption for the last five years.
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Consumption Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Albania | 1.8 | 2.8 | 0.9 | 2.6 | 2.9 |
| Algeria | 3.4 | 3.2 | 3.6 | 2.6 | - |
| Angola | 8.3 | 12.7 | 3.0 | - | - |
| Argentina | 3.6 | -4.4 | 3.7 | -1.0 | 3.6 |
| Armenia | 0.9 | 1.0 | -7.8 | -1.1 | 8.8 |
| Australia | - | - | - | - | - |
| Austria | -0.1 | 0.3 | 0.5 | 1.5 | 1.4 |
| Bahrain | 9.9 | -0.7 | 1.9 | 0.5 | - |
| Belarus | 10.9 | 4.3 | -2.4 | -3.9 | 2.9 |
| Belgium | 0.8 | 0.6 | 0.9 | 1.7 | 1.3 |
| Bolivia | 6.4 | 5.6 | 5.8 | 3.1 | - |
| Bosnia and Herzegovina | 0.8 | 1.4 | 1.8 | 2.3 | 2.6 |
| Brazil | 3.5 | 2.3 | -3.2 | -4.3 | 1.0 |
| Bulgaria | -2.5 | 2.7 | 4.3 | 3.5 | 4.8 |
| Canada | 2.6 | 2.7 | 2.1 | 2.4 | 3.5 |
| Chile | 5.5 | 2.7 | 2.1 | 2.2 | 2.4 |
| China | 6.8 | 7.9 | 7.2 | 7.8 | - |
| Colombia | 4.8 | 4.6 | 3.4 | 1.4 | 2.2 |
| Costa Rica | 3.0 | 3.9 | 4.2 | 3.3 | 2.7 |
| Croatia | -1.9 | -1.6 | 1.0 | 3.4 | 3.6 |
| Cyprus | -5.9 | 0.7 | 2.6 | 3.3 | 4.2 |
| Czech Republic | 0.5 | 1.8 | 3.8 | 3.6 | 4.0 |
| Denmark | 0.3 | 0.9 | 1.6 | 2.1 | 1.5 |
| Dominican Republic | 2.6 | 3.8 | 5.3 | 4.8 | 4.7 |
| Ecuador | 5.1 | 3.5 | 0.3 | -3.3 | 4.7 |
| Egypt | 3.3 | 4.4 | 3.1 | 4.6 | 4.2 |
| El Salvador | 3.3 | 0.0 | 2.1 | 1.3 | 0.7 |
| Estonia | 3.3 | 3.2 | 4.4 | 4.3 | 2.2 |
| Eurozone | -0.6 | 0.9 | 1.8 | 1.9 | 1.7 |
| Finland | -0.5 | 0.8 | 1.7 | 1.7 | 1.7 |
| France | 0.6 | 0.8 | 1.4 | 1.9 | 1.2 |
| Germany | 0.6 | 1.0 | 1.7 | 2.1 | 1.8 |
| Ghana | 15.9 | -5.9 | 4.3 | 2.9 | - |
| Greece | -2.6 | 0.6 | -0.5 | 0.0 | 0.1 |
| Guatemala | 3.9 | 4.1 | 5.1 | 3.5 | 3.4 |
| Haiti | 2.7 | 0.9 | 2.3 | 1.2 | 2.7 |
| Honduras | 3.7 | 1.7 | 3.6 | 4.3 | 4.3 |
| Hong Kong | 4.6 | 3.3 | 4.8 | 2.0 | 5.5 |
| Hungary | 0.5 | 2.4 | 3.4 | 3.8 | 4.1 |
| Iceland | 0.8 | 3.2 | 4.7 | 7.1 | 7.8 |
| India | 7.3 | 6.4 | 7.4 | 7.3 | - |
| Indonesia | 5.4 | 5.1 | 5.0 | 5.0 | 4.9 |
| Iran | - | - | - | - | - |
| Ireland | -0.7 | 2.0 | 4.2 | 3.3 | 1.9 |
| Israel | 3.7 | 4.2 | 3.7 | 5.5 | 3.2 |
| Italy | -2.4 | 0.2 | 1.9 | 1.4 | 1.4 |
| Jamaica | -1.0 | -0.8 | -0.5 | -0.2 | - |
| Japan | 2.4 | -0.9 | 0.0 | 0.1 | 1.0 |
| Kazakhstan | 10.6 | 1.1 | 1.8 | 1.2 | 1.5 |
| Kenya | 8.4 | 4.3 | 5.2 | 4.7 | 7.0 |
| Korea | 1.9 | 1.8 | 2.2 | 2.5 | 2.6 |
| Kuwait | 5.6 | 2.6 | 1.5 | 4.8 | - |
| Latvia | 5.1 | 1.4 | 2.5 | 3.3 | 5.1 |
| Lithuania | 4.3 | 4.0 | 4.0 | 4.9 | 3.8 |
| Luxembourg | 2.2 | 2.3 | 3.4 | 2.4 | 2.3 |
| Macedonia | 1.9 | 2.1 | 4.5 | 3.1 | 2.9 |
| Malaysia | 7.3 | 7.0 | 6.0 | 6.0 | 7.0 |
| Malta | 2.0 | 2.3 | 5.1 | 2.8 | 3.9 |
| Mexico | 1.8 | 2.1 | 3.4 | 3.7 | 3.0 |
| Morocco | 3.2 | 3.1 | 2.3 | 3.4 | 4.2 |
| Mozambique | 5.9 | 4.7 | 4.9 | 5.1 | - |
| Netherlands | -1.0 | 0.3 | 2.0 | 1.6 | 1.9 |
| New Zealand | 3.5 | 3.2 | 3.8 | 5.0 | 4.5 |
| Nicaragua | 3.8 | 4.2 | 5.2 | 5.3 | 3.8 |
| Nigeria | 21.2 | 0.5 | -0.4 | -3.7 | - |
| Norway | 2.8 | 2.1 | 2.6 | 1.5 | 2.5 |
| Oman | 6.0 | 5.1 | -0.6 | -0.6 | - |
| Panama | 7.2 | 6.5 | 3.4 | 4.8 | - |
| Paraguay | 4.5 | 3.8 | 1.9 | 0.9 | - |
| Peru | 5.9 | 4.2 | 4.9 | 2.7 | 2.3 |
| Philippines | 5.6 | 5.6 | 6.3 | 7.1 | 5.9 |
| Poland | 0.3 | 2.6 | 3.0 | 3.9 | 4.8 |
| Portugal | -1.3 | 2.3 | 2.1 | 2.1 | 2.3 |
| Qatar | - | - | - | - | - |
| Romania | 2.6 | 4.2 | 5.8 | 8.0 | 10.2 |
| Russia | 5.2 | 2.0 | -9.4 | -2.8 | 3.4 |
| Saudi Arabia | 3.2 | 6.1 | 6.8 | 2.2 | 2.0 |
| Serbia | -0.4 | -1.3 | 0.4 | 0.8 | 1.8 |
| Singapore | 3.6 | 3.4 | 5.0 | 1.7 | 3.1 |
| Slovakia | -0.8 | 1.4 | 2.3 | 2.6 | 3.7 |
| Slovenia | -4.2 | 1.9 | 2.1 | 4.3 | 3.2 |
| South Africa | 2.0 | 0.8 | 1.8 | 0.7 | 2.2 |
| Spain | -3.2 | 1.5 | 3.0 | 2.9 | 2.4 |
| Sweden | 1.9 | 2.1 | 3.1 | 2.2 | 2.2 |
| Switzerland | 2.6 | 1.3 | 1.8 | 1.5 | 1.2 |
| Taiwan | 2.3 | 3.4 | 2.6 | 2.3 | 2.3 |
| Tanzania | 8.5 | 4.5 | 1.4 | 16.6 | - |
| Thailand | 0.9 | 0.8 | 2.3 | 3.0 | 3.2 |
| Trinidad and Tobago | -13.6 | -0.9 | 8.9 | - | - |
| Tunisia | 3.0 | 4.1 | 3.2 | 3.1 | - |
| Turkey | 7.9 | 3.0 | 5.4 | 3.7 | 6.1 |
| USA | 1.5 | 2.9 | 3.6 | 2.7 | 2.8 |
| Ukraine | 6.9 | -8.3 | -20.7 | 2.1 | 7.8 |
| United Arab Emirates | 5.2 | 12.3 | -19.1 | -10.3 | - |
| United Kingdom | 1.7 | 2.1 | 2.6 | 2.9 | 1.7 |
| Uruguay | 5.5 | 3.0 | -0.5 | 0.1 | 4.4 |
| Uzbekistan | 9.7 | 10.9 | 11.6 | 7.0 | - |
| Vietnam | 5.2 | 6.1 | 9.3 | 7.3 | - |
| Zambia | - | - | - | - | - |
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Consumption Economic News
Finland: The economy growth slows to a four-month low in November
January 15, 2019
Economic activity grew a working-day adjusted 1.8% in November compared to the same month a year earlier, down from the revised 3.2% growth in October, which was previously reported as 2.9%.
Angola:
January 14, 2019
According to preliminary national accounts data released by the Statistical Institute (INE) on 14 January, the economy remained in recession in the third quarter of 2018.
United Kingdom: The economy loses momentum in the three months to November
January 11, 2019
According to monthly GDP data released by the Office for National Statistics (ONS), economic activity rose 0.2% in November over the prior month in seasonally-adjusted terms, up from October’s 0.1% increase.
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