MarketXLS

Real Personal Consumption Expenditures 16.8T for 

Real Personal Consumption Expenditures came in at 16.8T for Q2 2026, up 0.85% from 16.7T the prior quarter and 2.33% above its level of 16.4T one year ago. The series has averaged 6.82T since 1947, reaching a record high of 16.8T in April 2026 and a record low of 1.351T in January 1947.

Source: Federal Reserve Economic Data (FRED), St. Louis Fed

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Cite this data: "Real Personal Consumption Expenditures," MarketXLS. Data from Federal Reserve Economic Data (FRED), St. Louis Fed. marketxls.com/indicators/real-personal-consumption-expenditures

Historical Data

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⋮
April 1, 202616.8T
January 1, 202616.7T
October 1, 202516.7T
July 1, 202516.6T
April 1, 202516.4T
January 1, 202516.3T
October 1, 202416.3T
July 1, 202416.2T
April 1, 202416T
January 1, 202415.9T
October 1, 202315.8T
July 1, 202315.7T
April 1, 202315.6T
January 1, 202315.5T
October 1, 202215.3T
July 1, 202215.3T
April 1, 202215.2T
January 1, 202215.1T
October 1, 202115.1T
July 1, 202114.9T
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⋮
July 1, 19865.691T
April 1, 19865.592T
January 1, 19865.532T
October 1, 19855.484T
July 1, 19855.472T
April 1, 19855.37T
January 1, 19855.321T
October 1, 19845.232T
July 1, 19845.165T
April 1, 19845.127T
January 1, 19845.056T
October 1, 19835.015T
July 1, 19834.936T
April 1, 19834.849T
January 1, 19834.752T
October 1, 19824.706T
July 1, 19824.625T
April 1, 19824.594T
January 1, 19824.58T
October 1, 19814.547T

About Real Personal Consumption Expenditures

What it measures

Real Personal Consumption Expenditures (FRED series PCECC96) measures inflation-adjusted household spending on goods and services, the largest component of US GDP. The Bureau of Economic Analysis publishes this quarterly series in chained dollars as part of the national income and product accounts, covering everything from groceries to healthcare and housing services.

Why it matters

Consumer spending accounts for roughly two thirds of US economic output, so its direction largely determines whether GDP expands or contracts. Analysts watch it to judge household health, the pass-through of income and wealth changes to demand, and the sustainability of an expansion. Weakness here has preceded most postwar recessions.

How to read it

Rising real PCE indicates households are absorbing price changes and still increasing purchases; falling readings suggest retrenchment. Compare its growth to real disposable income: spending outpacing income means the saving rate is falling, which is harder to sustain. As a quarterly average, it smooths monthly volatility but reveals turning points later than the monthly series.

Get Real Personal Consumption Expenditures in Excel

Pull Real Personal Consumption Expenditures directly into your spreadsheet with a single MarketXLS formula - always current, no copy-pasting:

=RealPersonalConsumptionExpenditure()

View the Real Personal Consumption Expenditure formula documentation or browse all 100+ Economic Data functions.

Frequently Asked Questions

What is the current Real Personal Consumption Expenditures?

Real Personal Consumption Expenditures is 16.8T as of April 2026.

What is the all-time high and low of Real Personal Consumption Expenditures?

The highest value on record is 16.8T (April 2026) and the lowest is 1.351T (January 1947).

How often is Real Personal Consumption Expenditures updated?

Real Personal Consumption Expenditures is published on a quarterly basis, sourced from Federal Reserve Economic Data (FRED).

How do I get Real Personal Consumption Expenditures in Excel?

Use the MarketXLS Excel formula =RealPersonalConsumptionExpenditure() to pull Real Personal Consumption Expenditures directly into any cell, with historical values available for analysis.

Basic info
Real personal consumption expenditures (PCE) is the primary measure of consumer spending on goods and services in the U.S. economy which is adjusted for inflation.
RegionUnited States
FrequencyQuarterly
Last updatedAugust 26, 2026
Seasonal adjustmentSeasonally Adjusted Annual Rate
UnitBillions of Chained 2017 Dollars

Stats
Last Value16.8T
Latest PeriodQ2 2026
Last UpdatedAugust 26 2026, 07:48
Value Previous Quarter16.7T
Change From Previous Quarter0.85%
Value 1 Year Ago16.4T
Change From Year Ago2.33%
Average Growth Rate3.23%/yr
Record High (Apr 2026)16.8T
Record Low (Jan 1947)1.351T
Long-Term Average6.82T
FrequencyQuarterly
AdjustmentSeasonally Adjusted Annual Rate
UnitBillions of Chained 2017 Dollars

Annual Averages
202616.8T
202516.5T
202416.1T
202315.6T
202215.2T
202114.8T
202013.6T
201913.9T
201813.7T
201713.3T
201612.9T
201512.6T

Related Indicators
Real Gross Domestic Product
Real Gross Private Domestic Investment
Real Government Spending
Real Net Exports of Goods and Services
Real Exports of Goods and Services
Real imports of goods and services
Federal Receipts
Federal Net Outlays
Federal Surplus or Deficit
US Federal Debt (Total Public Debt)
Real Private Nonresidential Fixed Investment
Real Private Residential Fixed Investment
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