In the past two days, the Commerce Department’s Bureau of Economic Analysis (BEA) has released two brand new sets of economic statistics that business people, entrepreneurs, policy makers, households and others can use to make more informed decisions in their professional and personal lives. Today, BEA released new statistics that show how much consumers spent in every state and the District of Columbia last year as well as in years back to 1997.
Here are some highlights from today’s report:
- Total consumer spending across all states grew 4.2 percent in 2014, with growth ranging from 2.1 percent in West Virginia to 7.4 percent in North Dakota.
- Across all states, per person (per capita) consumer spending last year was $37,196. Per person spending ranged from a high of $48,020 in Massachusetts to a low of $29,386 in Mississippi.