BMO Economist Highlights Broad Consumer Spending Across Major Categories
Jennifer Lee notes that resilient personal consumption supports the overall strength of the US economy based on latest PCE data.
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Terms & Concepts
PCE Data: Personal Consumption Expenditures data measures the value of goods and services consumed by households, serving as an indicator of consumer spending trends.
Consumer Spending: The total value of goods and services purchased by households, a key driver of economic growth.