Real consumption expenditures reached a record-high of $9.459 trillion (seasonally adjusted, annual rate in 2005 dollars) in February, according to today’s BEA report on Personal Income and Outlays. Consumer spending is now 1.1% above the pre-recession level of $9.355 in December 2007, and almost 4% above the cyclical low of $9.114 trillion in April 2009 (see chart above).
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