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VOL. 129 | NO. 154 | Friday, August 08, 2014

Mississippi Consumer Spending Grows Slowest in Nation

JEFF AMY | Associated Press

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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.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 86 182 13,079
MORTGAGES 135 267 17,025
FORECLOSURE NOTICES 15 36 3,336
BUILDING PERMITS 366 366 30,930
BANKRUPTCIES 69 135 12,478
BUSINESS LICENSES 23 43 4,532
UTILITY CONNECTIONS 182 328 19,221
MARRIAGE LICENSES 32 67 3,976

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