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How Americas Consumers SpendAcross States
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Growth in Consumer Spending
2002-2012
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New Statistics on Consumer Spending
For the first time, statistics are availableon state-level consumer spending.
BEA released first report on Aug. 7.
Annual data spans 1997 through 2012.
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Leading Statistics
Before the Great Recession, spending byNevada consumers grew at a 10.1 % pace, butafterwards dwindled to 1.2 % pace.
In contrast, spending by Michigan consumers
grew at a 2.8 % pace before the recessionmarginally more than the 2.1 % after thedownturn.
Spending by all U.S. consumers grew at a 5.7 %pace before the recession compared with a 2.5% pace during the recovery.
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Who Are the Big Spenders?
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Consumer Spending Across the U.S.
2012
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A Look at Consumer Spending Beforeand After the Great Recession
2002-2007 2009-2012
United
States
5.7 % 2.5 %
Arizona 9.1 % 1.9 %
Florida 7.8 % 2.2 %
Nevada 10.1 % 1.2 %
Indiana 4.6 % 2.6 %
Michigan 2.8 % 2.1 %
Ohio 3.6 % 2.4 %
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Average Annual Growth
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How did the Great Recession AffectSpending in Nevada?
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$500
$700
$900
$1,100
$1,300
$1,500
$1,700
$1,900
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Perperson
Spending for Select Categories
Motor vehicles and parts Furnishings and durable household equipment
Gasoline and other energy goods Food services and accommodations
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How did Consumers Make EndsMeet in Nevada?
2007 2009 Difference Percentchange
Motor vehicles
and parts
$1477 $884 - $593 - 40.1 %
Furnishings and durablehousehold equipment
$1112 $876 - $236 - 21.2 %
Gas and other energygoods
$1096 $821 - $275 - 25.1 %
Food services andaccommodations
$1660 $1474 - $186 - 11.2 %
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Per Person Spending
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How did the Great Recession AffectSpending in Arizona?
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$500
$700
$900
$1,100
$1,300
$1,500
$1,700
$1,900
$2,100
$2,300
$2,500
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Perperson
Spending for Select Categories
Motor vehicles and parts Furnishings and durable household equipment
Gasoline and other energy goods Food services and accommodations
H did h G R i Aff
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How did the Great Recession AffectSpending in Indiana?
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$500
$700
$900
$1,100
$1,300
$1,500
$1,700
$1,900
$2,100
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Perperson
Spending for Select Categories
Motor vehicles and parts Furnishings and durable household equipment
Gasoline and other energy goods Food services and accommodations
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How did Consumers Make EndsMeet in Indiana?
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2007 2009 Difference Percentchange
Motor vehicles
and parts
$1247 $1023 - $224 - 18.0 %
Furnishings and durablehousehold equipment
$868 $750 - $76 - 10.1 %
Gas and other energygoods
$1456 $1137 - $319 - 22.0 %
Food services andaccommodations
$1700 $1694 - $6 - 0.4 %
Per Person Spending
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How did the Great Recession AffectSpending in Ohio?
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$500
$700
$900
$1,100
$1,300
$1,500
$1,700
$1,900
$2,100
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
PerPerson
Spending for Select Categories
Motor vehicles and parts Furnishings and durable household equipment
Gasoline and other energy goods Food services and accommodations
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How has Spending Recoveredin Hard Hit States?
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90 95 100 105 110 115 120
Arizona
Florida
Nevada
Indiana
Michigan
Ohio
United States
100
Consumer spending in 2012 compared to 2007
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New Statistics on Quarterly GDP by State
Provides more precise identification ofthe timing of economic downturns andrecoveries in each state.
Provides a more timely read on theeconomic health of states.
Aids in the early identification ofwarning signs in the U.S. economy.
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GDP Leading into the Great Recession
2007 FirstQuarter
SecondQuarter
ThirdQuarter
FourthQuarter
United
States
1.5 0.4 2.4 2.2 1.1
Arizona 2.8 - 0.8 4.4 4.2 - 4.6
Florida 0.4 - 4.4 2.0 3.7 - 2.8
Nevada 1.9 3.4 0.8 2.3 4.4
Indiana 2.6 0.5 6.3 4.6 2.0
Michigan - 1.5 2.7 - 1.4 0.5 - 8.3
Ohio - 0.8 0.3 - 1.1 1.5 - 1.6
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Annualized Growth Rates