Share of U.S. Consumer Spending: Financial Services and Insurance

## What this measures

Fees, commissions and the imputed cost of banking and insurance, as a share of all U.S. consumer spending.

## Why it matters

It has more than doubled its share since 1959.

## How to read it

It was 8.1% in the second quarter of 2026, against 3.7% in 1959 and 6.1% in early 1990.

## What it does not say

It covers all spending on behalf of households, including what employers and government pay for them (most health care is paid by insurers and Medicare), and spending by nonprofits that serve households. So it differs from what families pay out of pocket; for that, read the household.cex.share series. Shares are of nominal dollars, so a category whose prices rise faster gains share.

## Source

Bureau of Economic Analysis, National Income and Product Accounts Table 2.3.5, quarterly, via the FRED API, pulled nightly. Palanor divides financial services and insurance (DIFSRC1Q027SBEA) by total personal consumption expenditures (PCEC). BEA data are in the public domain.