ST. LOUIS – A new federal report shows modest consumer spending increases in Missouri as the state's economy continues to improve five years after the Great Recession.
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The U.S. Department of Commerce report released Thursday shows that consumer spending in the state increased nearly 4 percent in 2012, the latest year figures are available, with a 4.5 percent increase the previous year. By contrast, statewide consumer spending decreased in 2009 amid a nationwide housing bust.
The Bureau of Economic Analysis study offers the first state-by-state comparison of consumer spending. North Dakota saw the greatest increase in per-person income in 2012, with a 16.2 percent hike driven by oil and natural gas production.