Source: US Bureau of Economic Analysis
Notes: The Bureau of Economic Analysis has released for the first time an analysis of personal consumption expenditures (PCE) by state, measuring 16 expenditure categories (8 categories of goods, 7 categories of services, and net expenditures of non-profit institutions serving households). In looking at per capita PCE in 2014, the analysis notes that it is highest in Massachusetts ($48,020), North Dakota ($47,737), New Hampshire ($46,633) and Alaska ($46,229), while exceeding $55,000 in Washington, DC ($55,141).
The average per capita PCE across all states was $37,196, up 4.2% year-over-year. Growth in PCE was highest in North Dakota (7.4%), Colorado (5.7%) and Texas (5.7%).
Meanwhile, per capita PCE was highest:
- In Maryland for housing and utilities ($9,146 versus the national average of $6,720);
- In Alaska for healthcare ($9,303 versus the average of $6,128);
- In Vermont for food and beverages purchased for off-premises consumption ($4,104 versus $2,780 average); and
- In North Dakota for gasoline and other energy goods ($4,124 versus $1,258 average).
Related: Baby Boomers’ Spending Trends, by Category
About the Data: The following services are included in PCE estimates: housing and utilities, health care, transportation services, recreation services, food services and accommodations, financial services and insurance, and other services.
The following goods are included: food and beverages purchased for off-premises consumption; clothing and footwear; gasoline and other energy goods; other non-durable goods; motor vehicles and parts; furnishings and durable household equipment; recreational goods and vehicles; and other durable goods.