Michigan economy grows 2% in latest year

(AP Photo/David Duprey)

LANSING, Mich. (AP) — A federal report says Michigan’s per-capita consumer spending rose 3.2 percent in the latest year, compared with a national increase of 4.1 percent.

The U.S. Bureau of Economic Analysis said Thursday that Michigan residents spent $321 billion in 2012. It says Michigan’s total consumer spending rose an annual average of 2.7 percent in 1997-2012.

Nationwide, the report says consumer spending rose 4.1 percent in 2012 and an annual average of 4.8 percent in 1997-2012.

Michigan’s consumer spending has risen each year since 2009, when it fell 2.8 percent. The report says Michigan’s consumer spending rose 2.5 percent in 2010 and 4.6 percent in 2011.

It says the Great Lakes region’s per-capita consumer spending rose 3.7 percent in 2012.



Report details

WOOD TV8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s