Consumer spending in South Dakota rebounded quickly after the Great Recession ended five years ago, and the state's recent spending growth was ahead of the national pace.
A new U.S. Bureau of Economic Analysis report shows that spending jumped 14.9 percent in South Dakota from 2009 through 2012. Consumer spending by South Dakotans surpassed the pre-recession high just three years after the recession ended.
The report also indicates that South Dakota's per capita consumer spending in 2012 grew 3.5 percent over the previous year. That is slightly stronger than nation's 3.3 percent growth in 2012, the most recent year for which figures are available.
Each South Dakotan spent $37,036 on average on consumer goods in 2012. Of that, about $5,000 was spent on housing and almost $7,100 on health care.
Most Popular Today
- 1.Retail & Restaurants
Bass Pro Shops Turned Brandon Down
Hundreds Turn Out For Motorcycle Rally Event In Yankton
Citibank Under Investigation For Student Loan Servicing
South Dakota Withholds 911 Upgrade Money After Problems
Sioux Falls Building Boom
Rally Impact Felt Across State
Brandon City Council To Consider Indoor Hockey Rink/Community Center
- 8.School Supplies, Retail & Restaurants
Smart Phones & Back To School Shopping
- 9.Your Money Matters
10th Street Struggles
Monday Morning Business Brief