AI Data Insight
The US Personal Consumption Expenditures Quantity Index (Services) reached 119.978 in the fourth quarter of 2025, growing by approximately 2.5% compared to 117.009 in the same period last year, hitting another record high. Strongly driven by healthcare and financial services, the services sector has become the core supporting consumption momentum. However, accompanied by a declining savings rate and elevated core inflation, the Federal Reserve's future policy path will be more cautious.