Personal consumption expenditures are the value of goods and services purchased by or for people.<br />It is commonly called PCE and it grew in the US by 8.2% in May when compared with April.<br />This marks the metric's first positive result since January, reports Business Insider.<br />PCE growth was flat month-to-month in February, before dropping 6.6% in March and 12.6% in April.<br />This is a direct result of the coronavirus pandemic took its toll.<br />However, these new results point toward recovery in consumer spending but it may be short-lived.<br />Without a second round of stimulus checks, we may see these numbers bottom out again.
