Arizona

Aug 7, 2014 3:05 PM by Associated Press

Consumer spending still weak in Arizona

PHOENIX (AP) - A new government report shows 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 due to 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.

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