Fri August 8, 2014
Tennessee Consumer Spending Outperforms National Average
A new federal report finds consumer spending in Tennessee has outperformed the national average since the Recession ended five years ago.
The US Bureau of Economic Analysis finds Tennessee per capita spending grew from 2009 to 2012 by more than $3,400, or 12.2 percent. Tennessee per capita spending average was $31,417.
In 2012, the typical Tennessean spent more on health care ($5,414) than on housing and utilities ($5,407).
North Dakota saw the largest gain in the nation: spending jumped 28 percent from 2009 through 2012. Next was Oklahoma, with a 16 percent rise in spending.
Nevada saw the weakest performance, a 3.5 percent increase, followed by Arizona, with a 6.2 percent increase.
The national average was up 10.7 percent to $35,498.
Per-person spending in 2012 was highest in Washington, D.C. ($59,423), followed by Massachusetts ($47,308).
Spending was lowest that year in Mississippi ($27,406).
In Tennessee (2102):
Per capita spending on food and beverages (home and restaurants) averaged $2,538 a year, or $6.95 a day. Tennesseans spent $1,187, or $3.25 a day, for gasoline and other energy costs.