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Texas makes big gains in consumer spending growth

Texas makes big gains in consumer spending growth

Posted on Aug. 7, 2014 at 12:00 a.m. | Updated on Aug. 7, 2014 at 6:19 p.m.

The federal government for the first time has issued consumer spending data that shows individual states’ recovery from the Great Recession. A Commerce Department report shows Texas made one of the biggest gains in the U.S. in consumer spending growth. Here are some highlights from Texas:

— Personal consumption expenditures grew 128 percent from 1997-2012, compared to 111 percent nationally.

— Second-lowest per capita spending on housing, utilities in U.S.

— Personal income grew 1.3 percent in the first quarter of 2014, compared to 0.8 percent nationally.

— Payroll employment grew 21.9 percent, compared to 4.8 percent nationally from December 1999 to December 2013.

— Per capita personal expenditures up 4.1 percent between 2011-2012, ranks third in the nation.

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Source:

U.S. Commerce Department.




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