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Nevada consumer spending rises but far below normal

Nevada consumer spending rises but far below normal

CREATED Aug 7, 2014

RENO, Nev. (AP) -- Consumer spending in Nevada rose to its highest level in five years in 2012 but continued to lag far behind the national average, according to a new report showing a wide discrepancy in economic recovery from the recession across the country.

Personal consumption expenditures jumped 28 percent in North Dakota from 2010 through 2012, the largest gain nationwide.

By contrast, the U.S. Bureau of Economic Analysis study released Thursday says spending rose a scant 3.5 percent in Nevada, the weakest for any state and far below the 10.7 percent national average.

Consumer spending in Nevada doubled from $40 billion in 1999 to $80 billion in 2007. But it fell off to $77 billion in 2009 before slowly climbing again the next three years to a peak of $81 billion in 2012.