Consumer spending on financial services
Personal consumption expenditures on financial service charges, fees and commissions, and financial services furnished without payment, by the households and nonprofit institutions serving households resident in the place, in millions of current US dollars. Bureau of Economic Analysis, PCE by state by type of product (table SAPCE3, line 87, Financial services); the national figure equals the national accounts (NIPA table 2.4.5).
About half is an estimate of the value of banking services paid for through lower interest on deposits rather than explicit fees. Millions of current US dollars: not adjusted for inflation or for price differences between states (see regional_price_parity). Spending is assigned to the state where the buyer lives, wherever the purchase is made. It includes purchases paid on behalf of households by employers, insurers and government programs, and the spending of nonprofit institutions serving households. Not the same as retail sales, which count store sales where the store is, and not the PCE price index. BEA revises the latest years every September.
Key facts
- Consumer spending on financial services in the United States was $1.11 trillion in 2025, according to the U.S. Bureau of Economic Analysis.
- California had the highest consumer spending on financial services of 51 states in 2025, at $151.08 billion, and Vermont the lowest, at $1.77 billion. Source: the U.S. Bureau of Economic Analysis.
- Published for 52 places, with figures from 1997 to 2025.
Rankings
US states by consumer spending on financial services, 2025
Places with data
Countries
Regions and states
- California
- Texas
- Florida
- New York
- Pennsylvania
- Illinois
- Ohio
- Georgia
- North Carolina
- Michigan
- Kentucky
- Kansas
- Maine
- Louisiana
- West Virginia
- Massachusetts
Use this data in your AI agent
Invokely serves this figure to AI assistants through MCP and to code through a REST API, with the source and citation attached. Ask your assistant:
Which places have the highest consumer spending on financial services? Use official data and cite it.
rank_places {"indicator":"consumer_spending_usd_financial_services","level":"region","within":"United States"}
GET https://invokely.ai/api/v1/rank?indicator=consumer_spending_usd_financial_services&level=region&within=United%20States