Americans Splurge on Food, Entertainment as Apparel Drops: Chart
(Bloomberg) -- It’s all about the experience. U.S. households’ entertainment spending rose 4.5 percent in the 12 months ending June 2016, according to a semiannual report on consumer expenditures across major categories released Wednesday by the Bureau of Labor Statistics. In addition, spending jumped 6.6 percent on “food away from home,” such as at restaurants, more than double the rate of growth in food for home consumption. Apparel and services spending dropped 4.8 percent.