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8:38 am
Fri August 8, 2014

Consumer Spending Up in Region Since End of Recession

Credit freepik.com

ANNAPOLIS, Md. (AP) - Consumer spending in Maryland rose slowly but steadily in the years after the Great Recession.

The figures come from a report the government released Thursday. For the first time, the report shows consumer spending on a state-by-state basis.

Consumer spending increased about 8 percent from 2009 through 2012, the latest year for which figures are available. The Great Recession officially ended in June 2009.

Spending went up 2 percent in Maryland from 2009 to 2010. It rose 4 percent from 2010 to 2011. Consumer spending climbed about 3 percent in 2011 to 2012.

Maryland was among the highest states in per capita spending for housing and utilities.

Per-person spending in 2012 for Maryland was $40,980. Seven states and the District of Columbia had higher per-person spending in 2012 than Maryland.

Delaware

DOVER, Del. (AP) - New figures released by the federal government show Delaware trailing the national average in per-capita consumer spending growth.

A report released Thursday shows that the percentage growth in per-capita spending in Delaware lagged behind the national average in 2011 and 2012, the most recent years included in the study.

But the numbers show average consumer spending growth of 5.2 percent in Delaware from 1998 to 2012, compared to 4.8 percent nationwide.

The study shows Delawareans spent less per capita on gasoline and other energy goods in 2012 than the national average, but more in other categories.

Virginia

RICHMOND, Va. (AP) - Consumer spending in Virginia is higher than it was before the Great Recession but is lagging behind the nation in spending growth.

New state-level figures released Thursday by the federal government for the first time show that Virginia's per capita consumer spending in 2012 grew 2.9 percent over the previous year.

That's weaker than the 3.3 percent growth in per capita consumer spending by the entire nation in 2012, the most recent year figures are available.

Consumer spending has soared since the Great Recession ended five years ago in U.S. states with oil and gas drilling booms, and has lagged in states hit especially hard by the housing bust.

On average, each Virginian spent $38,133 on consumer goods and services in 2012. Per capita spending nationwide was $35,498.