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Local Commerce Index

The Local Commerce Index (LCI) is a measure of the monthly year-over-year growth rate of everyday debit and credit card spending by over 64 million de-identified Chase customers across 14 metro areas in the US. The LCI is an alternative view of the health and vibrancy of the US consumer.

December 2018

The Local Commerce Index decreased 0.6 percent year-over-year in December 2018, including one fewer Friday in December 2018 than December 2017. For more information on how this type of day-of-week effect is manifested in year-over-year growth rates, see our previous report, Big Spend on the Weekend.  


December 2018
November 2018
October 2018

Spending at restaurants made the only positive contribution of any product type. This is only the second time in the LCI series where the only positive contributions to growth occurred at restaurants. There was a widespread decline in growth rates across metro areas tracked by the LCI. Growth rates were 2.7 percentage points lower on average in December than in November. The negative contribution made by consumers over the age of 55 to spending growth this month demonstrates that even though growth rates may be relatively high for certain subsets of consumers (e.g. millennials), the impact of these subsets on top-line growth can be swamped by the consumers whose spending is a bigger share of overall growth.

Starting with the August 2017 refresh, the Local 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.

Where is everyday spending growing?


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.



About the Index


Regularly released, the LCI 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.