PHOENIX — A new government report showed Arizona had the second-weakest
growth in consumer spending since the recession ended
Spending increased 6.2 percent in Arizona from 2009 through 2012, the latest
year for which figures are available.
The only state with lower growth was
Nevada, where spending eked out a scant 3.5 percent increase. Home values
plummeted in both states once the housing bust hit.
By contrast, spending jumped 28 percent in North Dakota, largely because of
revenues from new oil drilling techniques.
It is the first time the government has issued the report. The overall numbers
point to substantial shifts in the economy since the recession ended.