Personal Consumption Expenditure
Encyclopedia
The Personal Consumption Expenditure (PCE) is the component statistic for consumption in GDP
collected by the BEA
. It consists of the actual and imputed expenditures of household
s and includes data pertaining to durable and non-durable goods, and services. It is essentially a measure of goods and services targeted towards individuals and consumed by individuals.
Gross domestic product
Gross domestic product refers to the market value of all final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country's standard of living....
collected by the BEA
Bureau of Economic Analysis
The Bureau of Economic Analysis is an agency in the United States Department of Commerce that provides important economic statistics including the gross domestic product of the United States. Its stated mission is to "promote a better understanding of the U.S...
. It consists of the actual and imputed expenditures of household
Household
The household is "the basic residential unit in which economic production, consumption, inheritance, child rearing, and shelter are organized and carried out"; [the household] "may or may not be synonymous with family"....
s and includes data pertaining to durable and non-durable goods, and services. It is essentially a measure of goods and services targeted towards individuals and consumed by individuals.