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
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Albania | 1.1 | 1.9 | 2.6 | 3.2 | 3.3 |
| Algeria | 3.6 | 2.6 | 2.2 | 2.7 | 1.9 |
| Angola | - | - | - | - | - |
| Argentina | 3.7 | -0.8 | 4.0 | -2.4 | -6.4 |
| Armenia | -7.1 | -1.3 | 12.1 | 7.6 | 10.4 |
| Australia | - | - | - | - | - |
| Austria | - | - | - | - | - |
| Bahrain | - | - | - | - | - |
| Belarus | -2.4 | -3.2 | 4.8 | 8.0 | 4.7 |
| Belgium | 1.6 | 1.9 | 1.8 | 1.5 | 1.1 |
| Bolivia | 5.8 | 3.1 | - | - | - |
| Bosnia and Herzegovina | 1.8 | 2.2 | 1.1 | 2.3 | 2.4 |
| Brazil | -3.2 | -3.8 | 2.0 | 2.1 | 1.8 |
| Bulgaria | 3.6 | 3.5 | 3.8 | 4.3 | 5.8 |
| Canada | 2.3 | 1.9 | 3.7 | 2.2 | 1.6 |
| Chile | 2.1 | 2.7 | 3.4 | 3.7 | 1.1 |
| China | 7.4 | 8.6 | 6.8 | 9.5 | 6.8 |
| Colombia | 3.4 | 1.6 | 2.3 | 3.7 | 4.4 |
| Costa Rica | 4.2 | 3.6 | 3.5 | 1.7 | 2.2 |
| Croatia | 0.2 | 3.1 | 3.2 | 3.2 | 3.6 |
| Cyprus | 2.8 | 4.4 | 4.5 | 3.3 | 3.0 |
| Czech Republic | 3.8 | 3.5 | 4.4 | 3.1 | 3.0 |
| Denmark | 2.3 | 2.4 | 1.6 | 2.7 | 2.2 |
| Dominican Republic | 6.5 | 5.5 | 3.9 | 5.2 | 4.8 |
| Ecuador | 0.3 | -2.0 | 3.6 | 2.4 | 0.7 |
| Egypt | - | - | - | - | - |
| El Salvador | 2.8 | 1.5 | 2.1 | 2.4 | - |
| Estonia | 4.9 | 4.5 | 2.7 | 4.2 | 3.2 |
| Eurozone | 1.8 | 1.9 | 1.9 | 1.4 | 1.3 |
| Finland | 1.6 | 2.4 | 1.0 | 1.8 | 1.0 |
| France | 1.5 | 1.6 | 1.7 | 0.8 | 1.5 |
| Germany | 1.9 | 2.3 | 1.3 | 1.3 | 1.6 |
| Ghana | 1.1 | 0.2 | 0.1 | 8.5 | 4.3 |
| Greece | -0.3 | 0.1 | 0.9 | 0.9 | 0.7 |
| Guatemala | 4.7 | 3.2 | 3.1 | 3.8 | 4.2 |
| Haiti | 2.3 | 1.2 | 2.7 | 1.2 | - |
| Honduras | 3.6 | 4.1 | 4.1 | 4.3 | 3.6 |
| Hong Kong | 4.8 | 2.0 | 5.5 | 5.3 | -1.1 |
| Hungary | 3.8 | 4.9 | 4.4 | 4.9 | 5.0 |
| Iceland | 4.5 | 7.2 | 8.1 | 4.7 | 1.6 |
| India | 7.9 | 8.1 | 7.0 | 7.2 | - |
| Indonesia | 5.0 | 5.0 | 4.9 | 5.1 | 5.0 |
| Iran | - | - | - | - | - |
| Ireland | 3.2 | 5.2 | 3.0 | 3.4 | 2.8 |
| Israel | 3.8 | 5.7 | 3.3 | 3.8 | 3.8 |
| Italy | 1.9 | 1.2 | 1.5 | 0.9 | 0.4 |
| Jamaica | -0.1 | 0.1 | 1.1 | 0.7 | - |
| Japan | -0.2 | -0.3 | 1.3 | 0.0 | 0.1 |
| Kazakhstan | 1.8 | 1.2 | 1.5 | 6.1 | 5.8 |
| Kenya | - | - | - | - | - |
| Korea | 2.2 | 2.6 | 2.8 | 3.2 | 1.7 |
| Kuwait | 1.5 | 1.0 | 3.0 | 5.7 | - |
| Latvia | 2.5 | 1.5 | 3.1 | 4.2 | 2.9 |
| Lithuania | 4.1 | 4.0 | 3.5 | 3.7 | 3.2 |
| Luxembourg | 1.8 | 3.4 | 2.1 | 3.3 | 2.8 |
| Malaysia | 6.0 | 5.9 | 6.9 | 8.0 | 7.6 |
| Malta | 5.0 | 2.6 | 3.3 | 7.8 | 2.9 |
| Mexico | 2.7 | 3.8 | 3.2 | 2.3 | 0.6 |
| Morocco | - | - | - | - | - |
| Mozambique | - | - | - | - | - |
| Netherlands | 2.0 | 1.1 | 2.1 | 2.3 | 1.4 |
| New Zealand | 3.6 | 5.6 | 5.2 | 3.2 | 2.7 |
| Nicaragua | 5.4 | 6.0 | 2.6 | -3.9 | -2.2 |
| Nigeria | - | - | - | - | - |
| North Macedonia | 4.4 | 3.9 | 2.1 | 3.7 | 3.5 |
| Norway | 2.7 | 1.1 | 2.2 | 1.9 | 1.5 |
| Oman | 0.7 | -0.5 | 5.9 | 0.6 | - |
| Panama | 3.6 | 7.6 | 3.7 | 3.2 | - |
| Paraguay | 3.8 | 3.2 | 4.2 | 4.1 | 1.9 |
| Peru | 4.9 | 3.0 | 2.3 | 3.3 | 2.8 |
| Philippines | 6.4 | 7.2 | 6.0 | 5.8 | 5.9 |
| Poland | 3.0 | 3.9 | 4.5 | 4.2 | 3.9 |
| Portugal | 1.9 | 2.6 | 2.1 | 2.9 | 2.3 |
| Qatar | - | - | - | - | - |
| Romania | 5.8 | 8.4 | 10.0 | 7.2 | 6.0 |
| Russia | -9.5 | -2.6 | 3.7 | 3.3 | 2.5 |
| Saudi Arabia | - | - | - | - | - |
| Serbia | -0.5 | 1.3 | 2.0 | 3.0 | 3.2 |
| Singapore | 5.2 | 3.2 | 3.1 | 4.2 | 3.7 |
| Slovakia | 2.8 | 3.9 | 4.4 | 3.9 | 2.5 |
| Slovenia | 2.1 | 4.5 | 2.0 | 2.8 | 2.6 |
| South Africa | 1.9 | 0.6 | 2.1 | 1.8 | 1.1 |
| Spain | 2.9 | 2.6 | 3.0 | 1.8 | 1.1 |
| Sweden | 3.9 | 2.3 | 2.6 | 1.8 | 1.2 |
| Switzerland | 1.7 | 1.4 | 1.2 | 1.0 | 1.2 |
| Taiwan | 2.9 | 2.6 | 2.7 | 2.0 | 2.2 |
| Tanzania | 6.3 | 1.1 | 4.8 | 6.3 | - |
| Thailand | 2.6 | 2.9 | 3.1 | 4.6 | 4.5 |
| Trinidad and Tobago | 8.9 | - | - | - | - |
| Tunisia | 3.2 | 3.1 | 2.4 | 2.1 | - |
| Turkey | 5.4 | 3.7 | 6.2 | 0.0 | 0.7 |
| USA | 3.7 | 2.7 | 2.6 | 3.0 | 2.6 |
| Ukraine | 19.8 | 2.7 | 9.5 | 9.3 | 11.9 |
| United Arab Emirates | - | - | - | - | - |
| United Kingdom | 3.0 | 3.6 | 2.2 | 1.6 | 1.1 |
| Uruguay | -0.5 | 0.1 | 4.6 | 1.5 | 0.5 |
| Uzbekistan | 11.6 | 7.0 | - | - | - |
| Vietnam | 9.3 | 7.3 | 7.4 | 7.3 | - |
| Zambia | - | - | - | - | - |
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Consumption Economic News
-
Spain: Economy swings back to growth in Q2 amid easing restrictions
July 30, 2021
The economy swung back to expansion in the second quarter, as the lifting of restrictions amid an acceleration in the vaccine rollout supported domestic activity.
-
Czech Republic: Economy rebounds amid low base effect and easing restrictions in Q2
July 30, 2021
The economy expanded 0.6% on a seasonally-adjusted year-on-year basis in the second quarter, amid an acceleration in the vaccination campaign and easing restrictions.
-
Euro Area: GDP rebounds strongly in Q2 amid easing lockdowns
July 30, 2021
The economy grew a seasonally-adjusted 2.0% over the previous quarter in Q2, contrasting Q1’s 0.3% contraction and beating market expectations of a softer expansion.
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