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Consumer spending up in Md. since recession

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Local,Maryland

ANNAPOLIS, Md. (AP) — Consumer spending in Maryland rose slowly but steadily in the years after the Great Recession, according to a report released by the federal government on Thursday.

The report released by the U.S. Bureau of Economic Analysis shows consumer spending on a state-by-state basis for the first time. The data covers the years 1997 to 2012.

In Maryland, consumer spending increased about 8.2 percent from 2009 through 2012, the latest year for which figures are available. The national average increase in spending during that period was 10.7 percent.

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 in 2012. The District of Columbia had the highest per capita spending in that category with $11,985, followed by Hawaii at $10,002, Connecticut at $9,524 and Maryland, which had $9,000 in per capita spending on housing and utilities.

Per-person spending in 2012 for Maryland was $40,980. The District of Columbia had higher per-person spending than Maryland, as did seven states: Alaska, Connecticut, Massachusetts, New Hampshire, New Jersey, New York and North Dakota. Spending was lowest that year in Mississippi, at $27,406.

The report also includes consumer spending by state on major types of products. Spending on durable goods such as motor vehicles and furniture has rebounded since the recession ended. Nondurable goods such as clothing also have rebounded since the recession ended.

Overall, the report showed spending has soared since the Great Recession ended five years ago in states with oil and gas drilling booms, like North Dakota. Spending has lagged in states hit especially hard by the housing bust, like Nevada.

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