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
Argentina: Economic contraction sharpens in Q4 2018
March 22, 2019
According to the Statistical Institute (Instituto Nacional de Estadísticas y Censos, INDEC), economic activity in the fourth quarter plummeted 6.2% in year-on-year terms, the weakest result in over nine years.
Chile: Growth accelerates in Q4 2018
March 18, 2019
According to comprehensive data released by the Central Bank, the economy grew 3.6% year-on-year in the fourth quarter, accelerating from a revised 2.6% increase in the third quarter (previously reported: +2.8% yoy).
Finland: Economic growth moderates in January
March 15, 2019
Economic activity grew a working-day adjusted 1.5% in January compared to the same month a year earlier, down from the revised 2.3% rise in December (previously reported: +2.7% year-on-year).
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