eNews

Big Boost in Spending in 2015

Thursday, September 29, 2016

By Cheryl Russell, American Consumers Newsletter

The average U.S. household spent $55,978 in 2015, according to the Consumer Expenditure Survey, a substantial 4.5 percent more than in 2014 after adjusting for inflation. Every age group gained ground in 2015.

Spending in 2015 was still 1.6 percent below what it was in 2006, the year average household spending peaked, but the gap is closing. For households headed by 45-to-54-year-olds and people aged 65-plus, spending in 2015 surpassed the 2006 peak and has never been higher.

Average Household Spending in 2015

(and % change 2006-15, in 2015 dollars)

Average household: $55,978 (-1.6%)

Under age 25: $32,797 (-1.0%)

Aged 25 to 34: $52,062 (-6.9%)

Aged 35 to 44: $65,334 (-3.3%)

Aged 45 to 54: $69,753 (+3.1%)

Aged 55 to 64: $58,781 (-1.6%)

Aged 65-plus: $44,664 (+8.4%)

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