Mish Shedlock Blog A Huge Change In Personal Spending Helps Explain Supply Chain Bottlenecks

Cover Personal Consumption Expenditures (PCE) (1180x780)

Table of Contents

• What are Personal Consumption Expenditures?
• Why are Personal Consumption Expenditures Important?
• How are Personal Consumption Expenditures Calculated?
• What Factors Affect Personal Consumption Expenditures?
• What is the Current Trend in Personal Consumption Expenditures?

What are Personal Consumption Expenditures?

Personal Consumption Expenditures (PCE) refer to the amount of money that households spend on goods and services. This includes spending on durable goods, non-durable goods, and services. PCE is an important measure of economic activity, as it accounts for a significant portion of the Gross Domestic Product (GDP) of a country.

PCE is often used as an indicator of consumer spending, which is a major contributor to economic growth. Consumer spending is influenced by a variety of factors, such as income, employment levels, interest rates, and consumer confidence. Therefore, changes in PCE can provide valuable insights into the health of the economy.

Why are Personal Consumption Expenditures Important?

Personal Consumption Expenditures are important for several reasons:

• They are a measure of economic activity: As mentioned earlier, PCE is a significant component of GDP. Therefore, changes in PCE can indicate whether the economy is growing or contracting.
• They reflect consumer behavior: Since PCE represents household spending on goods and services, it reflects the behavior of consumers. By analyzing changes in PCE, economists can gain insights into consumer behavior, such as spending patterns, preferences, and trends.
• They can impact economic growth: Consumer spending is a major driver of economic growth. When consumers spend more, businesses earn more, which can lead to higher employment levels and increased economic activity.

How are Personal Consumption Expenditures Calculated?

PCE is calculated using data from the Bureau of Economic Analysis (BEA). The BEA releases quarterly reports on PCE, which include data on spending by households on goods and services. The data is collected through surveys and other sources, such as tax records and financial statements.

The BEA uses a formula to calculate PCE, which takes into account changes in prices, the quantity of goods and services consumed, and changes in the composition of spending. The formula is:

PCE = Price Index x Quantity of Goods and Services Consumed

The price index used in the formula is the Personal Consumption Expenditures Price Index (PCEPI), which measures changes in the prices of goods and services consumed by households. The quantity of goods and services consumed is measured in physical units, such as the number of cars sold or the number of restaurant meals consumed.

What Factors Affect Personal Consumption Expenditures?

Several factors can affect Personal Consumption Expenditures:

• Income: Higher levels of income can lead to increased spending on goods and services. Conversely, lower levels of income can lead to reduced spending.
• Employment levels: When employment levels are high, consumers are more likely to spend money on goods and services. Conversely, when employment levels are low, consumers are more likely to save their money.
• Interest rates: When interest rates are low, consumers are more likely to borrow money to finance purchases. This can lead to increased spending on goods and services. Conversely, when interest rates are high, consumers are more likely to save their money.
• Consumer confidence: When consumers are confident about the economy and their financial situation, they are more likely to spend money on goods and services. Conversely, when consumers are uncertain or pessimistic, they are more likely to save their money.

What is the Current Trend in Personal Consumption Expenditures?

According to the BEA, Personal Consumption Expenditures increased at an annual rate of 11.0% in the second quarter of 2021. This was an increase from the first quarter of 2021, when PCE increased at an annual rate of 10.7%. The increase in PCE was driven by increased spending on goods, particularly durable goods such as motor vehicles and furnishings.

The increase in PCE is a positive sign for the economy, as it indicates that consumer spending is rebounding from the pandemic-related slowdown. However, there are concerns about the sustainability of the current trend in PCE. Rising inflation and supply chain disruptions could lead to higher prices for goods and services, which could reduce consumer spending in the future.

Conclusion

Personal Consumption Expenditures are an important measure of economic activity and consumer behavior.casade-371 casade-632 casade-73 casade-804 casade-595 casade-396 casade-857 casade-808 casade-969 casade-6910 casade-5211 casade-2312 casade-8713 casade-2914 casade-2315 casade-7216 casade-217 casade-1918 casade-9119 casade-4920 casade-7421 casade-9922 casade-8823 casade-8124 casade-7625 casade-8026 casade-8427 casade-2728 casade-429 casade-3030 casade-3031 casade-6532 casade-9633 casade-234 casade-2235 casade-7836 casade-8837 casade-5338 casade-2239 casade-8840 casade-7241 casade-2342 casade-3043 casade-4344 casade-845 casade-5446 casade-2647 casade-248 casade-10049 casade-5150 casade-6551 casade-4252 casade-5053 casade-1954 casade-9855 casade-6056 casade-7157 casade-6058 casade-7759 casade-9860 casade-5361 casade-6862 casade-9863 casade-1564 casade-1065 casade-5666 casade-5667 casade-3868 casade-1469 casade-1570 casade-8271 casade-1772 casade-10073 casade-1274 casade-2075 casade-7876 casade-9477 casade-9478 casade-1479 casade-7580 casade-1381 casade-8282 casade-8583 casade-2284 casade-4785 casade-9086 casade-9287 casade-788 casade-2489 casade-590 casade-4691 casade-1992 casade-8093 casade-4994 casade-7595 casade-4396 casade-4297 casade-498 casade-1799 casade-100100 casade-15101 casade-37102 casade-56103 casade-37104 casade-64105 casade-53106 casade-31107 casade-94108 casade-93109 casade-51110 casade-89111 casade-54112 casade-11113 casade-88114 casade-25115 casade-73116 casade-98117 casade-16118 casade-79119 casade-70120 casade-38121 casade-3122 casade-44123 casade-34124 casade-27125 casade-99126 casade-61127 casade-36128 casade-95129 casade-89130 casade-36131 casade-22132 casade-17133 casade-98134 casade-61135 casade-96136 casade-22137 casade-53138 casade-83139 casade-50140 casade-80141 casade-39142 casade-65143 casade-91144 casade-55145 casade-27146 casade-49147 casade-12148 casade-95149 casade-100150 casade-37151 casade-91152 casade-68153 casade-69154 casade-48155 casade-61156 casade-85157 casade-69158 casade-18159 casade-21160 casade-4161 casade-96162 casade-3163 casade-51164 casade-76165 casade-18166 casade-7167 casade-93168 casade-27169 casade-64170 casade-9171 casade-12172 casade-21173 casade-10174 casade-59175 casade-74176 casade-38177 casade-45178 casade-9179 casade-49180 casade-36181 casade-85182 casade-95183 casade-81184 casade-41185 casade-62186 casade-89187 casade-64188 casade-4189 casade-24190 casade-14191 casade-49192 casade-6193 casade-55194 casade-19195 casade-21196 casade-91197 casade-46198 casade-34199 casade-66200 casade-48201 casade-28202 casade-4203 casade-30204 casade-3205 casade-57206 casade-76207 casade-31208 casade-26209 casade-6210 casade-18211 casade-38212 casade-83213 casade-53214 casade-5215 casade-16216 casade-70217 casade-82218 casade-89219 casade-87220 casade-36221 casade-29222 casade-11223 casade-60224 casade-1225 casade-81226 casade-67227 casade-90228 casade-68229 casade-39230 casade-100231 casade-99232 casade-14233 casade-64234 casade-44235 casade-44236 casade-66237 casade-24238 casade-72239 casade-28240 casade-63241 casade-21242 casade-19243 casade-1244 casade-17245 casade-19246 casade-78247 casade-87248 casade-93249 casade-82250 casade-68251 casade-21252 casade-58253 casade-40254 casade-56255 casade-95256 casade-99257 casade-6258 casade-18259 casade-92260 casade-90261 casade-72262 casade-88263 casade-84264 casade-57265 casade-27266 casade-100267 casade-71268 casade-7269 casade-57270 casade-59271 casade-2272 casade-63273 casade-59274 casade-19275 casade-61276 casade-72277 casade-21278 casade-36279 casade-46280 casade-15281 casade-59282 casade-33283 casade-89284 casade-93285 casade-49286 casade-98287 casade-60288 casade-68289 casade-61290 casade-5291 casade-20292 casade-81293 casade-46294 casade-38295 casade-30296 casade-10297 casade-25298 casade-87299 casade-87300 casade-63301 casade-84302 casade-24303 casade-35304 casade-35305 casade-3306 casade-92307 casade-67308 casade-27309 casade-78310 casade-85311 casade-53312 casade-71313 casade-38314 casade-100315 casade-40316 casade-71317 casade-60318 casade-69319 casade-6320 casade-45321 casade-24322 casade-84323 casade-18324 casade-31325 casade-10326 casade-70327 casade-78328 casade-33329 casade-100330 casade-83331 casade-7332 casade-82333 casade-2334 casade-39335 casade-48336 casade-93337 casade-33338 casade-29339 casade-42340 casade-25341 casade-86342 casade-5343 casade-37344 casade-40345 casade-30346 casade-46347 casade-69348 casade-67349 casade-24350 casade-32351 casade-25352 casade-61353 casade-56354 casade-42355 casade-64356 casade-15357 casade-28358 casade-55359 casade-67360 casade-59361 casade-70362 casade-69363 casade-8364 casade-50365 casade-74366 casade-1367 casade-35368 casade-67369 casade-64370 casade-45371 casade-64372 casade-30373 casade-37374 casade-37375 casade-88376 casade-52377 casade-21378 casade-20379 casade-24380 casade-9381 casade-1382 casade-95383 casade-99384 casade-16385 casade-65386 casade-82387 casade-37388 casade-85389 casade-45390 casade-41391 casade-3392 casade-72393 casade-70394 casade-97395 casade-35396 casade-25397 casade-1398 casade-30399 casade-52400 casade-27401 casade-100402 casade-34403 casade-53404 casade-80405 casade-90406 casade-60407 casade-51408 casade-88409 casade-83410 casade-43411 casade-93412 casade-58413 casade-72414 casade-44415 casade-7416 casade-67417 casade-71418 casade-20419 casade-42420 casade-73421 casade-1422 casade-5423 casade-70424 casade-48425 casade-98426 casade-47427 casade-55428 casade-69429 casade-40430 casade-26431 casade-39432 casade-83433 casade-69434 casade-70435 casade-66436 casade-30437 casade-100438 casade-92439 casade-50440 casade-83441 casade-48442 casade-41443 casade-46444 casade-44445 casade-78446 casade-78447 casade-22448 casade-58449 casade-38450 casade-70451 casade-97452 casade-62453 casade-12454 casade-21455 casade-51456 casade-52457 casade-63458 casade-70459 casade-60460 casade-100461 casade-10462 casade-2463 casade-3464 casade-56465 casade-36466 casade-11467 casade-30468 casade-83469 casade-19470 casade-29471 casade-17472 casade-59473 casade-69474 casade-50475 casade-76476 casade-56477 casade-76478 casade-45479 casade-74480 casade-30481 casade-45482 casade-94483 casade-33484 casade-6485 casade-100486 casade-1487 casade-56488 casade-57489 casade-67490 casade-23491 casade-23492 casade-28493 casade-41494 casade-90495 casade-24496 casade-45497 casade-69498 casade-5499 casade-87500 casade-97501 casade-13502 casade-84503 casade-78504 casade-87505 casade-99506 casade-43507 casade-8508 casade-61509 casade-49510 casade-81511 casade-57512 casade-4513 casade-70514 casade-26515 casade-21516 casade-24517 casade-28518 casade-34519 casade-25520 casade-80521 casade-33522 casade-93523 casade-6524 casade-40525 casade-89526 casade-72527 casade-41528 casade-62529 casade-68530 casade-16531 casade-17532 casade-61533 casade-4534 casade-94535 casade-56536 casade-84537 casade-82538 casade-9539 casade-5540 casade-70541 casade-69542 casade-19543 casade-8544 casade-72545 casade-49546 casade-6547 casade-27548 casade-81549 casade-4550 casade-49551 casade-53552 casade-21553 casade-5554 casade-80555 casade-70556 casade-91557 casade-24558 casade-62559 casade-46560 casade-17561 casade-36562 casade-41563 casade-76564 casade-3565 casade-47566 casade-70567 casade-7568 casade-87569 casade-54570 casade-95571 casade-70572 casade-24573 casade-31574 casade-3575 casade-80576 casade-59577 casade-91578 casade-19579 casade-8580 casade-96581 casade-47582 casade-93583 casade-2584 casade-99585 casade-65586 casade-17587 casade-34588 casade-25589 casade-54590 casade-90591 casade-80592 casade-40593 casade-28594 casade-57595 casade-45596 casade-26597 casade-20598 casade-87599 casade-4600 casade-52601 casade-33602 casade-26603 casade-86604 casade-14605 casade-4606 casade-61607 casade-28608 casade-98609 casade-48610 casade-78611 casade-100612 casade-84613 casade-36614 casade-11615 casade-14616 casade-65617 casade-6618 casade-93619 casade-16620 casade-88621 casade-99622 casade-69623 casade-70624 casade-34625 casade-92626 casade-87627 casade-57628 casade-11629 casade-21630 casade-7631 casade-91632 casade-37633 casade-57634 casade-68635 casade-30636 casade-62637 casade-75638 casade-99639 casade-3640 casade-17641 casade-56642 casade-16643 casade-44644 casade-6645 casade-41646 casade-77647 casade-19648 casade-8649 casade-19650 casade-10651 casade-78652 casade-9653 casade-80654 casade-73655 casade-8656 casade-59657 casade-57658 casade-54659 casade-10660 casade-41661 casade-45662 casade-52663 casade-10664 casade-61665 casade-13666 casade-85667 casade-18668 casade-92669 casade-12670 casade-5671 casade-73672 casade-99673 casade-88674 casade-61675 casade-53676 casade-18677 casade-4678 casade-47679 casade-72680 casade-33681 casade-93682 casade-4683 casade-36684 casade-29685 casade-4686 casade-34687 casade-19688 casade-96689 casade-15690 casade-62691 casade-73692 casade-97693 casade-76694 casade-36695 casade-55696 casade-57697 casade-15698 casade-86699 casade-35700 casade-15701 casade-3702 casade-78703 casade-26704 casade-51705 casade-3706 casade-50707 casade-9708 casade-59709 casade-45710 casade-18711 casade-43712 casade-95713 casade-37714 casade-93715 casade-7716 casade-99717 casade-97718 casade-19719 casade-12720 casade-81721 casade-34722 casade-68723 casade-44724 casade-81725 casade-90726 casade-70727 casade-29728 casade-49729 casade-67730 casade-24731 casade-24732 casade-16733 casade-7734 casade-5735 casade-64736 casade-43737 casade-24738 casade-31739 casade-7740 casade-44741 casade-2742 casade-66743 casade-98744 casade-66745 casade-47746 casade-36747 casade-10748 casade-95749 casade-27750 casade-2751 casade-32752 casade-94753 casade-43754 casade-82755 casade-82756 casade-71757 casade-58758 casade-24759 casade-54760 casade-4761 casade-74762 casade-46763 casade-35764 casade-95765 casade-41766 casade-50767 casade-4768 casade-11769 casade-16770 casade-35771 casade-2772 casade-4773 casade-90774 casade-58775 casade-67776 casade-86777 casade-70778 casade-66779 casade-95780 casade-47781 casade-80782 casade-89783 casade-94784 casade-59785 casade-20786 casade-19787 casade-56788 casade-2789 casade-13790 casade-78791 casade-86792 casade-54793 casade-21794 casade-82795 casade-84796 casade-92797 casade-58798 casade-65799 casade-76800 casade-37801 casade-15802 casade-72803 casade-2804 casade-14805 casade-78806 casade-94807 casade-66808 casade-86809 casade-76810 casade-59811 casade-59812 casade-9813 casade-99814 casade-68815 casade-12816 casade-33817 casade-17818 casade-36819 casade-1820 casade-54821 casade-91822 casade-64823 casade-98824 casade-62825 casade-7826 casade-51827 casade-57828 casade-61829 casade-55830 casade-71831 casade-67832 casade-9833 casade-68834 casade-4835 casade-48836 casade-20837 casade-64838 casade-5839 casade-64840 casade-17841 casade-90842 casade-10843 casade-77844 casade-69845 casade-79846 casade-40847 casade-17848 casade-53849 casade-49850 casade-94851 casade-55852 casade-38853 casade-6854 casade-71855 casade-96856 casade-21857 casade-13858 casade-47859 casade-91860 casade-49861 casade-5862 casade-53863 casade-40864 casade-90865 casade-56866 casade-5867 casade-22868 casade-39869 casade-10870 casade-11871 casade-17872 casade-47873 casade-3874 casade-30875 casade-64876 casade-27877 casade-29878 casade-31879 casade-78880 casade-9881 casade-44882 casade-39883 casade-68884 casade-91885 casade-66886 casade-53887 casade-31888 casade-5889 casade-91890 casade-85891 casade-57892 casade-11893 casade-82894 casade-69895 casade-61896 casade-62897 casade-82898 casade-57899 casade-74900 casade-35901 casade-5902 casade-1903 casade-52904 casade-57905 casade-65906 casade-47907 casade-62908 casade-17909 casade-24910 casade-8911 casade-59912 casade-67913 casade-42914 casade-31915 casade-2916 casade-56917 casade-35918 casade-18919 casade-17920 casade-13921 casade-61922 casade-97923 casade-34924 casade-98925 casade-61926 casade-5927 casade-3928 casade-48929 casade-33930 casade-6931 casade-45932 casade-20933 casade-16934 casade-83935 casade-26936 casade-24937 casade-98938 casade-90939 casade-5940 casade-62941 casade-9942 casade-76943 casade-80944 casade-26945 casade-98946 casade-77947 casade-21948 casade-83949 casade-20950 casade-69951 casade-59952 casade-95953 casade-13954 casade-98955 casade-100956 casade-46957 casade-47958 casade-47959 casade-57960 casade-52961 casade-7962 casade-22963 casade-58964 casade-57965 casade-52966 casade-26967 casade-87968 casade-13969 casade-59970 casade-65971 casade-96972 casade-45973 casade-61974 casade-84975 casade-24976 casade-27977 casade-22978 casade-3979 casade-95980 casade-97981 casade-66982 casade-92983 casade-55984 casade-84985 casade-76986 casade-100987 casade-59988 casade-25989 casade-84990 casade-96991 casade-9992 casade-14993 casade-11994 casade-88995 casade-64996 casade-47997 casade-4998 casade-32999 casade-821000 casade-701001 casade-711002 casade-251003 casade-771004 casade-121005 casade-81006 casade-751007 casade-731008 casade-691009 casade-891010 casade-21011 casade-431012 casade-61013 casade-741014 casade-701015 casade-381016 casade-201017 casade-661018 casade-321019 casade-181020 casade-801021 casade-511022 casade-61023 casade-421024 casade-371025 casade-71026 casade-251027 casade-921028 casade-731029 casade-271030 casade-21031 casade-911032 casade-61033 casade-151034 casade-101035 casade-571036 casade-761037 casade-891038 casade-191039 casade-741040 casade-971041 casade-11042 casade-721043 casade-891044 casade-901045 casade-571046 casade-991047 casade-171048 casade-621049 casade-21050 casade-661051 casade-541052 casade-271053 casade-781054 casade-521055 casade-21056 casade-951057 casade-481058 casade-221059 casade-541060 casade-91061 casade-761062 casade-841063 casade-891064 casade-241065 casade-281066 casade-741067 casade-581068 casade-191069 casade-911070 casade-281071 casade-11072 casade-601073 casade-141074 casade-341075 casade-281076 casade-991077 casade-91078 casade-941079 casade-961080 casade-21081 casade-801082 casade-271083 casade-131084 casade-171085 casade-731086 casade-51087 casade-711088 casade-471089 casade-811090 casade-341091 casade-331092 casade-281093 casade-731094 casade-261095 casade-381096 casade-951097 casade-271098 casade-531099 casade-181100 casade-61101 casade-611102 casade-611103 casade-221104 casade-541105 casade-181106 casade-791107 casade-541108 casade-571109 casade-351110 casade-771111 casade-491112 casade-501113 casade-571114 casade-501115 casade-961116 casade-561117 casade-621118 casade-31119 casade-111120 casade-91121 casade-821122 casade-851123 casade-91124 casade-21125 casade-51126 casade-291127 casade-751128 casade-421129 casade-311130 casade-291131 casade-311132 casade-131133 casade-341134 casade-321135 casade-21136 casade-131137 casade-921138 casade-581139 casade-571140 casade-311141 casade-171142 casade-561143 casade-611144 casade-151145 casade-191146 casade-531147 casade-321148 casade-531149 casade-981150 casade-221151 casade-551152 casade-851153 casade-751154 casade-341155 casade-281156 casade-221157 casade-651158 casade-291159 casade-161160 casade-771161 casade-581162 casade-661163 casade-211164 casade-181165 casade-111166 casade-471167 casade-201168 casade-91169 casade-141170 casade-611171 casade-131172 casade-771173 casade-511174 casade-461175 casade-631176 casade-931177 casade-711178 casade-601179 casade-151180 casade-651181 casade-111182 casade-271183 casade-871184 casade-851185 casade-61186 casade-511187 casade-201188 casade-71189 casade-931190 casade-501191 casade-751192 casade-421193 casade-41194 casade-861195 casade-81196 casade-301197 casade-221198 casade-591199 casade-101200 casade-561201 casade-891202 casade-371203 casade-241204 casade-661205 casade-681206 casade-831207 casade-991208 casade-801209 casade-641210 casade-981211 casade-221212 casade-281213 casade-331214 casade-531215 casade-111216 casade-71217 casade-81218 casade-791219 casade-111220 casade-601221 casade-631222 casade-321223 casade-61224 casade-51225 casade-471226 casade-641227 casade-201228 casade-861229 casade-161230 casade-441231 casade-751232 casade-301233 casade-311234 casade-221235 casade-801236 casade-421237 casade-141238 casade-571239 casade-451240 casade-871241 casade-41242 casade-291243 casade-351244 casade-611245 casade-231246 casade-431247 casade-31248 casade-951249 casade-901250 casade-511251 casade-291252 casade-561253 casade-421254 casade-471255 casade-881256 casade-361257 casade-321258 casade-451259 casade-721260 casade-591261 casade-471262 casade-61263 casade-991264 casade-591265 casade-281266 casade-361267 casade-571268 casade-171269 casade-831270 casade-851271 casade-921272 casade-361273 casade-611274 casade-361275 casade-621276 casade-121277 casade-151278 casade-291279 casade-91280 casade-961281 casade-561282 casade-981283 casade-521284 casade-101285 casade-611286 casade-981287 casade-271288 casade-361289 casade-581290 casade-1001291 casade-311292 casade-251293 casade-261294 casade-821295 casade-311296 casade-781297 casade-311298 casade-821299 casade-91300 casade-751301 casade-121302 casade-931303 casade-471304 casade-211305 casade-191306 casade-151307 casade-131308 casade-491309 casade-101310 casade-971311 casade-101312 casade-171313 casade-241314 casade-221315 casade-121316 casade-821317 casade-551318 casade-371319 casade-911320 casade-121321 casade-771322 casade-501323 casade-621324 casade-271325 casade-671326 casade-501327 casade-191328 casade-771329 casade-891330 casade-331331 casade-561332 casade-261333 casade-991334 casade-741335 casade-1001336 casade-171337 casade-141338 casade-211339 casade-861340 casade-811341 casade-611342 casade-601343 casade-491344 casade-871345 casade-391346 casade-651347 casade-711348 casade-491349 casade-981350 casade-441351 casade-761352 casade-221353 casade-181354 casade-801355 casade-311356 casade-201357 casade-801358 casade-371359 casade-581360 casade-321361 casade-851362 casade-931363 casade-951364 casade-601365 casade-731366 casade-211367 casade-581368 casade-141369 casade-621370 casade-171371 casade-61372 casade-551373 casade-231374 casade-971375 casade-731376 casade-831377 casade-21378 casade-191379 casade-591380 casade-151381 casade-821382 casade-311383 casade-791384 casade-601385 casade-821386 casade-21387 casade-61388 casade-621389 casade-881390 casade-811391 casade-351392 casade-141393 casade-891394 casade-801395 casade-151396 casade-331397 casade-561398 casade-31399 casade-621400 casade-731401 casade-551402 casade-211403 casade-51404 casade-461405 casade-321406 casade-61407 casade-121408 casade-281409 casade-491410 casade-321411 casade-581412 casade-701413 casade-661414 casade-251415 casade-831416 casade-931417 casade-731418 casade-891419 casade-411420 casade-361421 casade-601422 casade-941423 casade-821424 casade-661425 casade-311426 casade-261427 casade-261428 casade-421429 casade-741430 casade-821431 casade-751432 casade-41433 casade-541434 casade-451435 casade-711436 casade-381437 casade-551438 casade-251439 casade-341440 casade-571441 casade-791442 casade-111443 casade-281444 casade-261445 casade-721446 casade-291447 casade-671448 casade-651449 casade-651450 casade-881451 casade-191452 casade-541453 casade-721454 casade-711455 casade-631456 casade-11457 casade-771458 casade-171459 casade-971460 casade-431461 casade-141462 casade-41463 casade-521464 casade-421465 casade-231466 casade-91467 casade-871468 casade-211469 casade-901470 casade-171471 casade-411472 casade-781473 casade-131474 casade-961475 casade-211476 casade-961477 casade-611478 casade-21479 casade-501480 casade-31481 casade-471482 casade-371483 casade-481484 casade-381485 casade-281486 casade-231487 casade-791488 casade-61489 casade-171490 casade-81491 casade-591492 casade-821493 casade-931494 casade-1001495 casade-881496 casade-131497 casade-651498 casade-531499 casade-701500 casade-721501 casade-91502 casade-821503 casade-241504 casade-431505 casade-121506 casade-401507 casade-171508 casade-691509 casade-331510 casade-271511 casade-371512 casade-911513 casade-491514 casade-701515 casade-821516 casade-961517 casade-281518 casade-391519 casade-1001520 casade-91521 casade-581522 casade-51523 casade-681524 casade-421525 casade-811526 casade-341527 casade-221528 casade-51529 casade-941530 casade-541531 casade-31532 casade-161533 casade-611534 casade-881535 casade-451536 casade-561537 casade-411538 casade-781539 casade-331540 casade-191541 casade-691542 casade-601543 casade-281544 casade-781545 casade-631546 casade-641547 casade-901548 casade-961549 casade-391550 casade-851551 casade-421552 casade-911553 casade-581554 casade-831555 casade-371556 casade-791557 casade-331558 casade-691559 casade-541560 casade-51561 casade-541562 casade-901563 casade-361564 casade-601565 casade-921566 casade-541567 casade-171568 casade-91569 casade-271570 casade-261571 casade-161572 casade-741573 casade-571574 casade-211575 casade-551576 casade-21577 casade-471578 casade-911579 casade-571580 casade-21581 casade-51582 casade-81583 casade-401584 casade-551585 casade-561586 casade-911587 casade-441588 casade-541589 casade-71590 casade-621591 casade-751592 casade-881593 casade-1001594 casade-981595 casade-511596 casade-941597 casade-551598 casade-551599 casade-851600 casade-701601 casade-911602 casade-711603 casade-721604 casade-261605 casade-121606 casade-351607 casade-501608 casade-141609 casade-241610 casade-231611 casade-191612 casade-761613 casade-571614 casade-101615 casade-321616 casade-71617 casade-571618 casade-831619 casade-771620 casade-301621 casade-1001622 casade-981623 casade-681624 casade-411625 casade-361626 casade-191627 casade-91628 casade-491629 casade-431630 casade-881631 casade-291632 casade-241633 casade-561634 casade-281635 casade-341636 casade-841637 casade-91638 casade-341639 casade-611640 casade-781641 casade-471642 casade-831643 casade-921644 casade-91645 casade-131646 casade-1001647 casade-341648 casade-431649 casade-621650 casade-661651 casade-461652 casade-861653 casade-401654 casade-351655 casade-821656 casade-71657 casade-191658 casade-501659 casade-591660 casade-171661 casade-251662 casade-481663 casade-81664 casade-871665 casade-261666 casade-501667 casade-731668 casade-161669 casade-431670 casade-221671 casade-721672 casade-561673 casade-721674 casade-31675 casade-991676 casade-401677 casade-521678 casade-161679 casade-311680 casade-881681 casade-131682 casade-741683 casade-11684 casade-781685 casade-671686 casade-131687 casade-981688 casade-341689 casade-711690 casade-761691 casade-951692 casade-241693 casade-641694 casade-781695 casade-841696 casade-281697 casade-211698 casade-741699 casade-991700 casade-161701 casade-921702 casade-621703 casade-331704 casade-561705 casade-621706 casade-321707 casade-61708 casade-501709 casade-981710 casade-221711 casade-91712 casade-991713 casade-921714 casade-451715 casade-771716 casade-911717 casade-241718 casade-131719 casade-81720 casade-851721 casade-921722 casade-571723 casade-901724 casade-571725 casade-181726 casade-341727 casade-81728 casade-961729 casade-411730 casade-121731 casade-151732 casade-471733 casade-921734 casade-241735 casade-51736 casade-571737 casade-61738 casade-51739 casade-271740 casade-501741 casade-831742 casade-431743 casade-671744 casade-681745 casade-461746 casade-521747 casade-511748 casade-381749 casade-261750 casade-901751 casade-491752 casade-791753 casade-61754 casade-291755 casade-981756 casade-831757 casade-801758 casade-131759 casade-291760 casade-501761 casade-371762 casade-881763 casade-101764 casade-841765 casade-401766 casade-41767 casade-661768 casade-31769 casade-521770 casade-491771 casade-391772 casade-361773 casade-191774 casade-921775 casade-441776 casade-171777 casade-561778 casade-451779 casade-671780 casade-361781 casade-891782 casade-871783 casade-851784 casade-971785 casade-571786 casade-21787 casade-981788 casade-151789 casade-281790 casade-171791 casade-671792 casade-221793 casade-261794 casade-751795 casade-591796 casade-321797 casade-941798 casade-311799 casade-711800 casade-591801 casade-581802 casade-611803 casade-631804 casade-641805 casade-431806 casade-91807 casade-861808 casade-671809 casade-951810 casade-581811 casade-791812 casade-631813 casade-391814 casade-971815 casade-881816 casade-181817 casade-871818 casade-721819 casade-621820 casade-741821 casade-261822 casade-571823 casade-131824 casade-581825 casade-361826 casade-511827 casade-471828 casade-721829 casade-671830 casade-491831 casade-761832 casade-861833 casade-531834 casade-971835 casade-441836 casade-361837 casade-161838 casade-681839 casade-131840 casade-191841 casade-171842 casade-881843 casade-81844 casade-481845 casade-491846 casade-361847 casade-681848 casade-781849 casade-861850 casade-691851 casade-81852 casade-461853 casade-681854 casade-21855 casade-891856 casade-991857 casade-241858 casade-501859 casade-921860 casade-111861 casade-571862 casade-231863 casade-181864 casade-771865 casade-131866 casade-531867 casade-131868 casade-431869 casade-471870 casade-671871 casade-801872 casade-61873 casade-451874 casade-231875 casade-681876 casade-411877 casade-771878 casade-601879 casade-341880 casade-411881 casade-751882 casade-141883 casade-701884 casade-671885 casade-711886 casade-631887 casade-31888 casade-741889 casade-721890 casade-971891 casade-121892 casade-851893 casade-331894 casade-171895 casade-331896 casade-941897 casade-161898 casade-111899 casade-91900 casade-211901 casade-891902 casade-411903 casade-911904 casade-41905 casade-711906 casade-31907 casade-151908 casade-981909 casade-501910 casade-51911 casade-151912 casade-981913 casade-341914 casade-71915 casade-701916 casade-531917 casade-131918 casade-261919 casade-211920 casade-61921 casade-491922 casade-721923 casade-941924 casade-661925 casade-721926 casade-741927 casade-861928 casade-691929 casade-701930 casade-591931 casade-651932 casade-741933 casade-611934 casade-361935 casade-761936 casade-131937 casade-111938 casade-711939 casade-181940 casade-751941 casade-491942 casade-791943 casade-581944 casade-1001945 casade-171946 casade-31947 casade-431948 casade-571949 casade-841950 casade-651951 casade-131952 casade-291953 casade-271954 casade-51955 casade-511956 casade-331957 casade-671958 casade-431959 casade-181960 casade-511961 casade-181962 casade-421963 casade-991964 casade-431965 casade-651966 casade-381967 casade-521968 casade-941969 casade-891970 casade-651971 casade-231972 casade-111973 casade-351974 casade-361975 casade-721976 casade-521977 casade-821978 casade-221979 casade-201980 casade-551981 casade-821982 casade-491983 casade-831984 casade-231985 casade-131986 casade-221987 casade-241988 casade-411989 casade-431990 casade-941991 casade-811992 casade-891993 casade-571994 casade-261995 casade-781996 casade-481997 casade-231998 casade-721999 casade-432000 casade-472001 casade-802002 casade-292003 casade-862004 casade-622005 casade-252006 casade-532007 casade-792008 casade-762009 casade-172010 casade-382011 casade-592012 casade-942013 casade-572014 casade-702015 casade-302016 casade-752017 casade-352018 casade-652019 casade-322020 casade-512021 casade-72022 casade-992023 casade-282024 casade-62025 casade-42026 casade-842027 casade-492028 casade-352029 casade-622030 casade-832031 casade-332032 casade-142033 casade-902034 casade-632035 casade-332036 casade-792037 casade-252038 casade-232039 casade-252040 casade-722041 casade-812042 casade-352043 casade-642044 casade-782045 casade-192046 casade-682047 casade-182048 casade-702049 casade-662050 casade-902051 casade-912052 casade-462053 casade-802054 casade-702055 casade-942056 casade-772057 casade-132058 casade-102059 casade-572060 casade-462061 casade-22062 casade-862063 casade-952064 casade-912065 casade-512066 casade-222067 casade-402068 casade-452069 casade-322070 casade-162071 casade-792072 casade-762073 casade-152074 casade-812075 casade-412076 casade-962077 casade-172078 casade-282079 casade-102080 casade-852081 casade-632082 casade-172083 casade-302084 casade-422085 casade-262086 casade-522087 casade-32088 casade-462089 casade-702090 casade-572091 casade-802092 casade-712093 casade-552094 casade-502095 casade-412096 casade-952097 casade-422098 casade-122099 casade-322100 casade-192101 casade-852102 casade-822103 casade-832104 casade-822105 casade-22106 casade-852107 casade-502108 casade-42109 casade-932110 casade-162111 casade-502112 casade-532113 casade-82114 casade-62115 casade-572116 casade-752117 casade-682118 casade-772119 casade-842120 casade-302121 casade-222122 casade-322123 casade-862124 casade-482125 casade-752126 casade-792127 casade-292128 casade-952129 casade-572130 casade-72131 casade-742132 casade-312133 casade-162134 casade-722135 casade-252136 casade-192137 casade-632138 casade-232139 casade-662140 casade-662141 casade-392142 casade-572143 casade-262144 casade-92145 casade-132146 casade-682147 casade-12148 casade-22149 casade-872150 casade-202151 casade-192152 casade-32153 casade-242154 casade-992155 casade-842156 casade-792157 casade-412158 casade-22159 casade-342160 casade-762161 casade-372162 casade-652163 casade-832164 casade-632165 casade-682166 casade-872167 casade-752168 casade-312169 casade-762170 casade-502171 casade-812172 casade-982173 casade-972174 casade-352175 casade-992176 casade-522177 casade-772178 casade-842179 casade-462180 casade-982181 casade-552182 casade-902183 casade-722184 casade-242185 casade-732186 casade-802187 casade-592188 casade-152189 casade-612190 casade-252191 casade-972192 casade-462193 casade-872194 casade-592195 casade-982196 casade-262197 casade-792198 casade-142199 casade-112200 casade-252201 casade-222202 casade-752203 casade-182204 casade-672205 casade-552206 casade-12207 casade-552208 casade-22209 casade-22210 casade-142211 casade-982212 casade-522213 casade-372214 casade-562215 casade-552216 casade-102217 casade-512218 casade-522219 casade-922220 casade-392221 casade-52222 casade-652223 casade-282224 casade-642225 casade-842226 casade-1002227 casade-562228 casade-792229 casade-232230 casade-662231 casade-482232 casade-12233 casade-872234 casade-192235 casade-182236 casade-492237 casade-532238 casade-682239 casade-682240 casade-672241 casade-272242 casade-742243 casade-182244 casade-432245 casade-222246 casade-172247 casade-162248 casade-972249 casade-152250 casade-132251 casade-932252 casade-912253 casade-622254 casade-772255 casade-802256 casade-542257 casade-372258 casade-172259 casade-742260 casade-872261 casade-652262 casade-812263 casade-312264 casade-132265 casade-902266 casade-722267 casade-122268 casade-32269 casade-512270 casade-762271 casade-322272 casade-202273 casade-362274 casade-842275 casade-162276 casade-802277 casade-202278 casade-282279 casade-322280 casade-192281 casade-602282 casade-142283 casade-542284 casade-322285 casade-792286 casade-202287 casade-832288 casade-932289 casade-202290 casade-762291 casade-872292 casade-432293 casade-322294 casade-92295 casade-122296 casade-852297 casade-352298 casade-182299 casade-872300 casade-922301 casade-752302 casade-72303 casade-962304 casade-312305 casade-422306 casade-372307 casade-562308 casade-852309 casade-32310 casade-182311 casade-822312 casade-42313 casade-192314 casade-292315 casade-82316 casade-72317 casade-212318 casade-322319 casade-962320 casade-162321 casade-202322 casade-382323 casade-152324 casade-512325 casade-942326 casade-912327 casade-152328 casade-282329 casade-32330 casade-482331 casade-522332 casade-162333 casade-952334 casade-672335 casade-182336 casade-472337 casade-882338 casade-642339 casade-852340 casade-232341 casade-642342 casade-442343 casade-302344 casade-942345 casade-522346 casade-522347 casade-452348 casade-802349 casade-62350 casade-382351 casade-32352 casade-502353 casade-102354 casade-552355 casade-142356 casade-912357 casade-202358 casade-392359 casade-262360 casade-872361 casade-132362 casade-112363 casade-692364 casade-62365 casade-442366 casade-382367 casade-932368 casade-52369 casade-282370 casade-372371 casade-382372 casade-362373 casade-72374 casade-552375 casade-732376 casade-332377 casade-842378 casade-522379 casade-912380 casade-342381 casade-982382 casade-252383 casade-222384 casade-452385 casade-902386 casade-22387 casade-222388 casade-912389 casade-52390 casade-622391 casade-82392 casade-382393 casade-472394 casade-202395 casade-542396 casade-532397 casade-612398 casade-222399 casade-92400 casade-802401 casade-322402 casade-82403 casade-192404 casade-42405 casade-262406 casade-1002407 casade-242408 casade-742409 casade-322410 casade-802411 casade-652412 casade-132413 casade-712414 casade-982415 casade-162416 casade-62417 casade-342418 casade-182419 casade-932420 casade-972421 casade-882422 casade-312423 casade-692424 casade-922425 casade-532426 casade-192427 casade-572428 casade-162429 casade-172430 casade-532431 casade-262432 casade-852433 casade-772434 casade-342435 casade-102436 casade-612437 casade-342438 casade-982439 casade-532440 casade-572441 casade-482442 casade-292443 casade-892444 casade-282445 casade-462446 casade-212447 casade-722448 casade-182449 casade-692450 casade-842451 casade-192452 casade-232453 casade-322454 casade-482455 casade-432456 casade-722457 casade-152458 casade-562459 casade-652460 casade-92461 casade-32462 casade-392463 casade-552464 casade-812465 casade-972466 casade-412467 casade-202468 casade-612469 casade-482470 casade-142471 casade-752472 casade-62473 casade-822474 casade-862475 casade-932476 casade-972477 casade-372478 casade-62479 casade-212480 casade-562481 casade-852482 casade-192483 casade-402484 casade-492485 casade-202486 casade-752487 casade-742488 casade-892489 casade-252490 casade-322491 casade-512492 casade-222493 casade-92494 casade-212495 casade-322496 casade-732497 casade-402498 casade-872499 casade-32500 casade-492501 casade-422502 casade-452503 casade-482504 casade-542505 casade-692506 casade-322507 casade-462508 casade-172509 casade-502510 casade-202511 casade-72512 casade-852513 casade-292514 casade-392515 casade-862516 casade-612517 casade-522518 casade-892519 casade-402520 casade-372521 casade-522522 casade-902523 casade-22524 casade-662525 casade-142526 casade-992527 casade-432528 casade-602529 casade-82530 casade-462531 casade-232532 casade-922533 casade-882534 casade-12535 casade-322536 casade-912537 casade-452538 casade-492539 casade-542540 casade-512541 casade-922542 casade-412543 casade-142544 casade-122545 casade-832546 casade-302547 casade-182548 casade-52549 casade-802550 casade-852551 casade-552552 casade-202553 casade-692554 casade-12555 casade-642556 casade-462557 casade-572558 casade-982559 casade-762560 casade-622561 casade-342562 casade-812563 casade-842564 casade-862565 casade-452566 casade-92567 casade-572568 casade-352569 casade-572570 casade-912571 casade-672572 casade-272573 casade-322574 casade-162575 casade-782576 casade-402577 casade-292578 casade-872579 casade-102580 casade-532581 casade-522582 casade-322583 casade-652584 casade-272585 casade-422586 casade-32587 casade-652588 casade-512589 casade-132590 casade-872591 casade-982592 casade-912593 casade-672594 casade-502595 casade-742596 casade-992597 casade-982598 casade-262599 casade-712600 casade-362601 casade-972602 casade-632603 casade-762604 casade-822605 casade-732606 casade-442607 casade-512608 casade-372609 casade-392610 casade-642611 casade-932612 casade-552613 casade-312614 casade-122615 casade-902616 casade-992617 casade-382618 casade-582619 casade-142620 casade-502621 casade-112622 casade-162623 casade-942624 casade-852625 casade-602626 casade-92627 casade-112628 casade-872629 casade-492630 casade-902631 casade-982632 casade-802633 casade-1002634 casade-842635 casade-652636 casade-832637 casade-32638 casade-642639 casade-822640 casade-202641 casade-62642 casade-212643 casade-482644 casade-992645 casade-222646 casade-492647 casade-942648 casade-912649 casade-772650 casade-152651 casade-962652 casade-532653 casade-692654 casade-302655 casade-442656 casade-182657 casade-822658 casade-542659 casade-592660 casade-12661 casade-132662 casade-702663 casade-792664 casade-422665 casade-222666 casade-392667 casade-1002668 casade-172669 casade-642670 casade-632671 casade-922672 casade-682673 casade-512674 casade-432675 casade-622676 casade-822677 casade-22678 casade-172679 casade-272680 casade-442681 casade-572682 casade-782683 casade-202684 casade-532685 casade-522686 casade-52687 casade-302688 casade-132689 casade-522690 casade-912691 casade-322692 casade-302693 casade-522694 casade-562695 casade-462696 casade-192697 casade-442698 casade-782699 casade-752700 casade-452701 casade-542702 casade-902703 casade-192704 casade-542705 casade-142706 casade-652707 casade-332708 casade-142709 casade-652710 casade-392711 casade-132712 casade-972713 casade-942714 casade-182715 casade-412716 casade-172717 casade-672718 casade-122719 casade-472720 casade-622721 casade-272722 casade-202723 casade-172724 casade-502725 casade-152726 casade-742727 casade-232728 casade-652729 casade-362730 casade-512731 casade-62732 casade-362733 casade-752734 casade-152735 casade-762736 casade-582737 casade-162738 casade-662739 casade-682740 casade-202741 casade-802742 casade-962743 casade-372744 casade-782745 casade-252746 casade-692747 casade-962748 casade-902749 casade-502750 casade-592751 casade-212752 casade-462753 casade-822754 casade-902755 casade-472756 casade-262757 casade-332758 casade-142759 casade-212760 casade-482761 casade-712762 casade-522763 casade-792764 casade-322765 casade-842766 casade-462767 casade-732768 casade-532769 casade-102770 casade-692771 casade-712772 casade-772773 casade-612774 casade-252775 casade-862776 casade-282777 casade-522778 casade-742779 casade-962780 casade-922781 casade-282782 casade-732783 casade-662784 casade-492785 casade-962786 casade-652787 casade-152788 casade-382789 casade-372790 casade-802791 casade-582792 casade-732793 casade-192794 casade-492795 casade-172796 casade-552797 casade-512798 casade-102799 casade-92800 casade-562801 casade-812802 casade-642803 casade-872804 casade-852805 casade-412806 casade-672807 casade-762808 casade-862809 casade-532810 casade-532811 casade-402812 casade-572813 casade-882814 casade-602815 casade-472816 casade-342817 casade-672818 casade-812819 casade-182820 casade-562821 casade-732822 casade-162823 casade-202824 casade-892825 casade-252826 casade-82827 casade-62828 casade-322829 casade-902830 casade-472831 casade-682832 casade-942833 casade-362834 casade-912835 casade-382836 casade-352837 casade-582838 casade-272839 casade-402840 casade-582841 casade-32842 casade-412843 casade-792844 casade-882845 casade-122846 casade-822847 casade-92848 casade-352849 casade-492850 casade-682851 casade-452852 casade-472853 casade-842854 casade-662855 casade-692856 casade-382857 casade-672858 casade-82859 casade-282860 casade-632861 casade-582862 casade-942863 casade-432864 casade-502865 casade-772866 casade-532867 casade-122868 casade-182869 casade-692870 casade-132871 casade-532872 casade-982873 casade-582874 casade-62875 casade-152876 casade-592877 casade-262878 casade-812879 casade-992880 casade-322881 casade-272882 casade-172883 casade-152884 casade-102885 casade-822886 casade-782887 casade-442888 casade-392889 casade-222890 casade-542891 casade-622892 casade-322893 casade-722894 casade-722895 casade-642896 casade-622897 casade-902898 casade-832899 casade-382900 casade-382901 casade-472902 casade-912903 casade-342904 casade-52905 casade-372906 casade-332907 casade-172908 casade-582909 casade-892910 casade-1002911 casade-972912 casade-412913 casade-552914 casade-892915 casade-392916 casade-682917 casade-552918 casade-642919 casade-22920 casade-302921 casade-602922 casade-392923 casade-412924 casade-252925 casade-172926 casade-472927 casade-662928 casade-312929 casade-862930 casade-282931 casade-52932 casade-162933 casade-642934 casade-722935 casade-112936 casade-132937 casade-512938 casade-382939 casade-932940 casade-952941 casade-722942 casade-592943 casade-222944 casade-722945 casade-172946 casade-912947 casade-492948 casade-782949 casade-702950 casade-362951 casade-312952 casade-132953 casade-652954 casade-542955 casade-432956 casade-412957 casade-612958 casade-452959 casade-622960 casade-582961 casade-1002962 casade-132963 casade-452964 casade-1002965 casade-812966 casade-562967 casade-752968 casade-572969 casade-322970 casade-752971 casade-572972 casade-272973 casade-952974 casade-142975 casade-82976 casade-722977 casade-262978 casade-482979 casade-662980 casade-52981 casade-172982 casade-562983 They provide valuable insights into the health of the economy, as well as the spending patterns and preferences of consumers. By understanding the factors that affect PCE, policymakers and businesses can make informed decisions about how to promote economic growth and stability.