VOL. 129 | NO. 154 | Friday, August 08, 2014
Mississippi Consumer Spending Grows Slowest in Nation
JEFF AMY | Associated Press
JACKSON, Miss. (AP) – Consumer spending grew more slowly in Mississippi than in any other state in 2012, reflecting the state's slow recovery from the recession.
A report released Thursday by the U.S. Commerce Department finds overall personal consumption spending grew 2.5 percent in Mississippi in 2012, compared to 4.1 percent nationwide. With other figures showing Mississippi's economy grew by a brisk 3.5 percent that year, it suggests gains aren't making it to the pockets of residents, or if so, they're not spending that money.
Per-capita spending grew 2.2 percent to $27,406, compared with 3.3 percent growth to $35,498 nationwide. Only Wyoming and Hawaii saw slower growth.
Mississippians spend more than the national average on gasoline, reflecting a rural and car-dependent state. However, they spend less than all other Americans on housing and utilities.
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