Local Consumer Commerce grew by 0.2 percent year-over-year in January 2018, a 0.7 percentage point increase from the 0.5 percent decline in spending registered in December 2017. Of the 14 metro areas we track, eight posted positive year-over-year growth rates, with the remaining six experiencing declines in spending. Younger and lower income consumers continued to contribute to growth, with older and higher income consumers continuing to subtract from it. Small businesses made a strong contribution to year-over-year growth in January 2018, contributing 0.6 percentage points to growth.Download Report of the January 2018 Local Consumer Commerce Index update FAQs
Local Consumer Commerce
The Local Consumer Commerce Index (LCCI) is a measure of the monthly year-over-year growth rate of everyday debit and credit card spending by over 64 million anonymized Chase customers across 14 metro areas in the US. The LCCI is an alternative view of the health and vibrancy of the US consumer and the places where consumers and businesses operate.
Regularly released, the LCCI will continue to describe the economic picture of local communities and provide a powerful tool for city development officials, businesses and investors, and statistical agencies to better understand the everyday economic health of consumers, businesses, and the places they care about.
Starting with the August 2017 refresh, the Local Consumer Commerce Index readjusted its geographic scope to 14 metro areas, omitting Seattle. This decision was driven by a desire to streamline our lens to focus on local transactions, and due to merchant-specific transaction data changes.
Archives by Year
Where is everyday spending growing?
Use this interactive map to view changes in the rate of everyday spending across 14 US cities and their surrounding metro areas over the past 24 months. Get even more information by viewing these data at the individual city level.
Profiles of Local Consumer Commerce: Insights from 12 Billion Transactions in 15 US Metro Areas
Research from the JPMorgan Chase Institute shows that the year-to-year growth of consumers' everyday spending on most goods and services in 15 major US metropolitan areas has slowed dramatically.
Big Spend on the Weekend
This material is a product of JPMorgan Chase Institute (“JPMCI”) and is provided to you solely for general information purposes. Unless otherwise specifically stated, any views or opinions expressed herein are solely those of the authors listed, and may differ from the views and opinions expressed by JPMS’s Research Department or other departments or divisions of JPMorgan Chase & Co. or its affiliates. This material is not a product of the Research Department of J.P. Morgan Securities LLC (“JPMS”). Information has been obtained from sources believed to be reliable but JPMorgan Chase & Co. or its affiliates and/or subsidiaries (collectively J.P. Morgan) do not warrant its completeness or accuracy. Opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. The data relied on for this report are based on past transactions and may not be indicative of future results. The opinion herein should not be construed as an individual recommendation for any particular client and are not intended as recommendations of particular securities, financial instruments or strategies for a particular client. This material does not constitute a solicitation or offer in any jurisdiction where such a solicitation is unlawful.
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