A report on U.S. consumer spending showed Americans spent nearly $19 trillion on goods and services, with housing, utilities, and health care topping the list.
The Bureau of Labor Statistics used 2023 personal consumption data to determine spending on over a dozen categories.
Food and accommodations ranked fourth, followed by entertainment and transportation. U.S. households spent $3.3 trillion on housing and utilities, $3.1 trillion on health care, and $1.4 trillion on groceries.
The data also revealed economic trends: spending on health care and housing is rising, while expenditures on clothing and food have declined.