Page 16 - US Market Performance Report 1Q 2018

1376 Stoneridge Circle | Escondido, CA 92029 | 800.228.5038 | www.dbmkt.com
The table below shows real personal consumption categories as of
rst quarter 2018 and the change in these categories since 1Q2012. Recreational goods and vehicles has grown 4 times as fast as total consumption, followed by household equipment and furnishings (3x) and motor vehicles and parts (2x).
Also notice that in the Services category, health care expenses are
nearing the total of the single largest expense, housing and utilities and
is growing at faster rates. Accordingly, these trends point to health care expenses exceeding housing and utilities in the near term. Since this is not a discretionary expense like other categories, barring decreases in health care, increases will squeeze discretionary consumption categories.
Transportation services are another sector that has been growing signi cantly faster than overall consumption.
Table 2.3.6. Real Personal Consumption Expenditures by Major Type of Product, Chained Dollars Billions of chained (2009) dollars
Seasonally adjusted at annual rates
Bureau of Economic Analysis
CHANGE SINCE 1Q2012
2018-I % OF ALL
RATIO TO $ % ALL
1 Personal consumption expenditures (PCE)
2 Goods
3 Durable goods
$12,061.0
$4,321.8 35.8% $1,759.1 14.6%
$1,682.0 16.2% 1.00
$841.7 24.2% 1.49 $545.3 44.9% 2.77
4 Motor vehicles and parts
5 Furnishings and durable household equipment 6 Recreational goods and vehicles
7 Other durable goods
$465.8 3.9% $429.7 3.6% $662.8 5.5% $238.1 2.0%
$112.8 32.0% 1.97 $140.6 48.6% 3.00 $263.6 66.0% 4.07
$61.1 34.5% 2.13
8 Nondurable goods $2,615.2 21.7%
$341.3 15.0% 0.93
9 Food and beverages purchased for off-premises consumption 10 Clothing and footwear
11 Gasoline and other energy goods
12 Other nondurable goods
$870.6 7.2% $388.3 3.2% $283.3 2.3%
$1,083.9 9.0%
$76.0 $47.3 $16.2
$203.8
9.6% 0.59 13.9% 0.86 6.1% 0.37 23.2% 1.43
13 Services $7,757.9 64.3% 14 Household consumption expenditures (for services) $7,427.6 61.6%
$859.9 12.5% 0.77 $810.7 12.3% 0.76
15 Housing and utilities 16 Health care
17 Transportation services 18 Recreation services
19 Food services and accommodations 20 Financial services and insurance
21 Other services
$2,057.6 17.1% $2,031.2 16.8% $365.6 3.0% $443.7 3.7% $737.5 6.1% $763.7 6.3% $1,035.3 8.6%
$141.6 $302.9 $71.7 $50.9 $101.2 $31.1
7.4% 0.46 17.5% 1.08 24.4% 1.51 13.0% 0.80 15.9% 0.98
4.2% 0.26 $118.8 13.0% 0.80
Page 14