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 |
| 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 | - |
| North Macedonia | 1.9 | 2.1 | 4.5 | 3.1 | 2.9 |
| 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
Japan: Second GDP release leaves growth broadly unchanged in Q1
June 10, 2019
Although comprehensive data for the first quarter corroborated that the economy expanded for the second consecutive quarter, it also confirmed that the print was mostly led by a sharp drop in imports.
United Kingdom: The economy contracts sharply in April amid plunging car production
June 10, 2019
According to monthly GDP data released by the Office for National Statistics (ONS), economic activity fell 0.4% in April over the prior month in seasonally-adjusted terms, down from March’s 0.1% contraction.
Cyprus: Growth at over three-year low on plunging exports
June 7, 2019
Economic growth clocked in at 3.2% in year-on-year terms in Q1 2019, slowing from the 3.8% expansion recorded in Q4 2018, due to a notable deterioration in the external sector.
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