Oil boom and housing bust alter US spending trends

By Christopher Rugaber

Published August 7, 2014 8:59pm ET

Add Washington Examiner on Google

Oil boom and housing bust alter US spending trends — FILE - In this Friday, Nov. 23, 2012, file photo, a man examines a row of washers and dryers while shopping at a Sears store in Henderson, Nev. Consumer spending has recovered at a much slower pace in states with big housing busts, a stark illustration of how the housing downturn has weighed on the economy years after the recession. Spending in Nevada rose just 3.5 percent in the first three years after the recession ended, the weakest of any state and far below the national average of 10.7 percent, according to a new annual government report. (AP Photo/Julie Jacobson, File) | Julie Jacobson

WASHINGTON (AP) — North Dakotans, enriched by an oil boom, stepped up their spending at triple the national pace in the three years that followed the Great Recession. In Nevada, smacked hard by the housing bust, consumers barely increased their spending.

Americans spend the most, per person, on housing in Washington, D.C., and the least in West Virginia.

Print subscriber? Click here to login/register your account

Digital subscriber? Click here to login/register your account.

Full midterm coverage.Deeper analysis.

Get unlimited access to Washington Examiner's reporting, expert analysis, and coverage of the midterm elections.

Get Unlimited Access

Cancel anytime.

Tag:

Budgets and Deficits Housing Oil