Consumer spending sees modest increase in Missouri
ST. LOUIS (AP) - 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.
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.
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