The Fact
BEA Personal Consumption Expenditures (PCE) measure goods and services purchased by, or on behalf of, people residing in the United States.
What This Means
The national consumer-spending measure is broader than purchases a household directly pays for at a checkout counter.
Sources
- U.S. Bureau of Economic Analysis, Personal Income and Outlays definitions. Accessed October 2, 2026. https://www.bea.gov/resources/methodologies/nipa-handbook