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
United Kingdom: The economy flatlines in August, data for June and July revised upward
October 10, 2018
According to monthly GDP data released by the Office for National Statistics (ONS), economic activity was unchanged in August over the prior month in seasonally-adjusted terms, undershooting market analysts’ expectations of 0.1% growth.
Guatemala: Economy grows at quickest pace since Q2 2016 in the second quarter
October 4, 2018
The Guatemalan economy picked up significant steam in the second quarter on the back of strong domestic demand, as the external sector weakened.
Ecuador: Economy grows at the weakest pace in one-and-a-half years in Q2
October 1, 2018
Ecuador’s economy lost steam again in the second quarter, with annual GDP growth falling to 0.9%, down from 1.6% in the first quarter as the government’s austerity drive restrained the pace of expansion through weaker domestic demand.
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