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From Home Furnishing Business
Fast Fact: Services Climb to 69% of Consumer Spending in 2018
July 8,
2019 by Laurie Northington in Business Strategy, Industry 
Overall, personal consumption expenditures have risen 41.6 percent post-recession with the majority of consumer spending – roughly two-thirds – absorbed by services and the amount increases every year, according to data from the U.S. Bureau of Economic Analysis.
Between 2013 and 2018, services have increased to 68.8 percent of consumer spending – from $7.6 trillion to $9.6 trillion in consumer dollars.
Although growth in consumer spending for both durable and nondurable goods was surpassed by services from 2000 to 2009, in the years following the recession (2009 to 2018), durable goods have surpassed growth in services and nondurables, increasing 44.2 percent compared to 44.0 percent for services and 32.9 percent for nondurables.
For an in-depth look at the data, click here.