FX.co ★ US Real Consumer Spending Stalls in September

Inflation-adjusted US personal consumption expenditures were unchanged month-on-month in September 2026, following a 0.5% increase in August. Spending on goods declined 0.3%, reversing a 1.1% gain in the prior month, led by reduced outlays on motor vehicles and parts (-2% vs 2.4%), recreational goods and vehicles (-0.2% vs 1.5%), and other durable goods (-0.8% vs 1.5%).

Spending on nondurable goods was flat after a 0.8% rise in August. A modest increase in food and beverages (0.1% vs 0.5%) was offset by lower expenditures on gasoline and other energy goods (-0.1% vs -0.5%) and on other nondurable goods (-0.1% vs 1.5%).

By contrast, services spending rose 0.2%, slowing from 0.3% in August, amid weaker growth in food services and accommodations (0.5% vs 1.1%) and transportation services (0.3% vs 0.4%). Recreation services decreased 0.8% after a 1.1% decline in the previous month. Spending on housing and utilities edged up 0.1%, down from a 0.2% increase in August.