SIOUX FALLS, S.D. (AP) – 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 the 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.
Comment Disclaimer: The views and opinions expressed in the comments section of DakotaRadioGroup.com are solely those of the comment author and do not necessarily reflect the views and opinions held by DakotaRadioGroup.com.