Consumer spending on the rise in D.C., Maryland and Virginia
Consumer spending in D.C. outpaces 50 states
WASHINGTON (AP) - New figures from the federal government show that District of Columbia residents spend more money per capita on goods and services than residents of any of the 50 states.
The figures come from a new annual government report that for the first time reveals consumer spending on a state-by-state basis. The data covers the years 1997 to 2012, and the District led the nation in per capita spending every year.
Personal spending is also growing faster in the nation's capital than in most states, reflecting the city's growing wealth. Spending in the District was also quick to recover from the Great Recession.
The study also found that District residents spent the most per capita in 2012 on housing and health care.
Virginia consumer spending higher than pre-recession
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.
Consumer spending up in Maryland since recession
ANNAPOLIS, Md. (AP) - Consumer spending in Maryland rose slowly but steadily in the years after the Great Recession.
The figures come from a report from 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.