Fatal Error Message

I’m trying to make updates to a site I’m working on, but keep getting this message when I try various updates, including updating to the newest version of wordpress. What does it mean??

Fatal error: Allowed memory size of 33554432 bytes exhausted (tried to allocate 2363509 bytes) in /home/(username)/public_html/wp-includes/class-http.php on line 1402.

*allocation size and line error change depending on what I’m trying to do. Does this just mean I am out of space and need to get more bandwidth??