Tuesday, September 10, 2013

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[IWS] BLS: CONSUMER EXPENDITURES--2012 [10 September 2013]

IWS Documented News Service

_______________________________

Institute for Workplace Studies----------------- Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor---------------------- Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

________________________________________________________________________

 

CONSUMER EXPENDITURES--2012 [10 September 2013]

http://www.bls.gov/news.release/cesan.nr0.htm

or

http://www.bls.gov/news.release/pdf/cesan.pdf

[full-text, 4 pages]

 

Average expenditures per consumer unit (1) in 2012 were $51,442, an increase

of 3.5 percent from 2011 levels, the U.S. Bureau of Labor Statistics reported

today. This surpassed the spending peak recorded in 2008, after which the

effects of the recession led to a low of $48,109 in 2010. The 2012 calendar

year increase in spending outpaced the 2.1-percent increase in prices for

goods and services during the same period, as measured by the Consumer Price

Index (CPI-U). This contrasts with 2010-2011, when the increase in average

expenditures mirrored the increase in prices.

               

Most of the major components of household spending increased in 2012, with

apparel being the lone exception, as shown in table A. The 11.2-percent rise

in cash contributions (including payments for support of college students,

alimony and child support, and giving to charities and religious organizations)

was the largest percentage increase among all major components. Overall

spending on transportation (+8.5 percent) and health care (+7.3 percent) rose

significantly, while spending on housing (+0.5 percent) and entertainment

(+1.3 percent) only increased modestly. Other highlights include a 2.2-percent

increase in food and a 3.1-percent increase in personal insurance and pensions.

 

Table A. Average annual expenditures and characteristics of all consumer units

and percent changes, 2010-2012              

 

AND MUCH MORE...including TABLES....

 

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